Työvoimatotuottavuus

Työvoimatotuottavuus, known in English as labor productivity, is a key economic indicator that measures the efficiency of labor in producing goods or services. It is typically calculated by dividing the total output of goods or services by the total hours worked or by the number of workers employed. This metric helps in understanding how much value is generated per unit of labor input.

High labor productivity suggests that an economy or a business is using its workforce effectively, often due to technological advancements, improved management practices, better worker training, or increased capital investment. Conversely, low labor productivity might indicate inefficiencies, outdated technology, or a need for workforce development.

Changes in labor productivity are closely watched by policymakers and businesses as they are linked to economic growth, competitiveness, and wage levels. For example, sustained increases in productivity allow for higher wages without necessarily increasing prices, thus contributing to an improved standard of living. It is also a significant factor in international comparisons of economic performance. Various factors can influence labor productivity, including education and skills of the workforce, the quality of infrastructure, the level of innovation, and the regulatory environment.