Labour productivity convergence in the business economy across EU member states
2024
Ancans, Sandris
Labour productivity indicates output per employee, represents production efficiency and is the key factor in incomes and therefore the standard of living. Labour productivity in the business economy varied significantly, i.e. sixfold, across EU Member States, with the lowest labour productivity being reported mostly in East European Member States, which makes it necessary to achieve higher productivity there. The present research aims to examine convergence trends in labour productivity and labour cost in the business economy in the EU. The research found that the fastest increase in labour productivity was reported mostly in East European Member States, although different trends were observed and even a slight decrease was reported in some Member States. However, overall, the gaps in labour productivity and labour cost between the Member States decreased significantly over a decade. A correlation analysis revealed that the correlation was strong between the change in labour productivity and that in labour cost, even though a negative trend was observed in most of the Member States with the labour cost increasing at a higher rate than the productivity, which is not sustainable economic growth in the long term.
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Издатель Latvia University of Life Sciences and Technologies