In Ireland, workers add an average of $99.50 (€87) to the value of the economy every hour they work, according to the OECD.
Irish workers are now officially the most productive in the world, adding an average of $99.50 (€87) to the value of the economy every hour they work, according to the Organisation for Economic Co-operation and Development (OECD).
The Paris-based agency published figures on Tuesday showing the Republic had the highest rate of labour productivity, effectively economic output per hour of work, of any advanced economy in 2017.
At the top of the OECD list was Ireland at $99.50, followed by Luxembourg ($98.50) and Norway ($83.10). The Republic’s rate was also significantly higher than its biggest trading partners, the United States ($72) and the UK ($61.10), and nearly twice the OECD average of $54.80.
Labour productivity typically measures the value of work done in a given economy over time, with higher value-added jobs generating the greatest productivity increases.
Source: www.irishtimes.com
