Labour Market Forum 2010 - Planning Institute of Jamaica
Labour Market Forum 2010 - Planning Institute of Jamaica
Labour Market Forum 2010 - Planning Institute of Jamaica
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Measuring Productivity: Issues & Concepts<br />
Productivity =<br />
Output (Value added, Quantity Produced, etc.)<br />
Input (<strong>Labour</strong>, Material, Capital, etc)<br />
<strong>Labour</strong> Productivity: The Focus<br />
There are three different measures <strong>of</strong> labour productivity:<br />
• Unit labour productivity:<br />
Output /ValueAdded<br />
=<br />
Number<strong>of</strong> Employees<br />
Unit labour-cost productivity:<br />
Output /ValueAdded<br />
=<br />
Compensation<strong>of</strong> Employees<br />
Unit labour-time productivity:<br />
Output /ValueAdded<br />
=<br />
TotalNumber<strong>of</strong> HoursWorked<br />
The <strong>Labour</strong> <strong>Market</strong> & Economic Growth<br />
→ It is <strong>Labour</strong>’s ability to convert or utilize resources efficiently<br />
and productively, i.e. add value or improve on them<br />
→ Therefore, labour must be equipped, skilled, organized,<br />
motivated and engaged to this end.<br />
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