Labor Productivity Trends Research Articles

INTERACTIONS OF ECONOMIC GROWTH, PRODUCTIVITY, INVESTMENT AND EMPLOYMENT IN THE CONTEXT OF LONG-TERM MACROECONOMIC DEVELOPMENTS

The aim of this article is to discuss the relationship between economic growth, productivity, investment and employment in the economy of the Republic of Armenia by using econometric and mathematical toolkits. The study examined long-term quantitative and qualitative changes in the structure of the RA economy and their impact on economic growth, productivity, investment and employment dynamics. The study showed that during the period under review, although a stable trend of economic growth was maintained in the RA economy, the trend of labor productivity, which determines the quality of this growth, was negative, which is associated with the ongoing deterioration of the structure of the economy, in particular, declining share of industries with a high share of value added and high productivity and reducing the influence and of these type of industries. In parallel, the relationship and interaction of real economic growth, productivity, investment and employment were studied using quantitative assessment toolkit.

ANALYSIS OF THE DEVELOPMENT OF REGIONAL LABOR MARKET IN TERMS OF ECONOMIC TRANSFORMATION (ON THE EXAMPLE OF THE PERM REGION)

Introduction. The long-term sustainable functioning of regional socio-economic systems in modern conditions of economic transformation directly depends on the pace, ratio and structural characteristics of regional labor markets. At the same time, in fact, in the regional socio-economic systems of the modern Russian Federation, the functions of the labor market are implemented in most cases not in full and insufficiently effectively. Methods. The research is based on analysis, synthesis, induction, deduction, abstraction, critical analysis of special literature, economic and statistical analysis. Results. The analysis of the current state of the regional labor market of the Perm Region is characterized by a number of quantitative and qualitative indicators that influence the trends in labor productivity, the financial and economic efficiency of the functioning of the region's economy and, ultimately, the level and quality of life of the population. Conclusions. The main trends and problems of the development of the regional labor market of the Perm Region (2016-2022) are identified, as well as the directions and problems of its influence on the functioning of the regional economy as a whole.

Парадокс производительности труда в экономике США: рост интенсивности, напряженности и «бессмысленности»

This study aims to provide a theoretical and empirical assessment of the influence of increased work intensity, physical strain, and repetitive tasks on labour productivity in different sectors of the US economy over an extended period. Employing an index-based methodology, we present a comparative analysis of changes in these factors from 1901 to 2020, using indicators and standards provided by the US Bureau of Labour Statistics. The findings reveal a paradoxical trend of slowing and, in some cases, declining labour productivity growth in specific sectors of the American economy. Our research hypothesis focuses on the paradox created by employers valuing employees’ time as a continuously acquired resource, resulting in increased “meaningless work”. This leads to stagnant labour productivity, requiring longer working hours as a solution. Empirical evidence confirms our hypothesis: in sectors involving material production and socially significant services, the limits of labour intensity and effort play a big role in reducing overall labour productivity. This happens independently of factors like capital and technology. On the other hand, in most commercial sectors like trade and various services, labour productivity steadily grows. These sectors efficiently use both intensive and extensive aspects of human effort per unit of time worked. The adverse impact of the proliferation of “meaningless work” is particularly noticeable in socially significant service industries, in the transport and warehousing sector in the United States. Through an examination of labour productivity trends across different sectors of the US economy, this study sheds light on the prospects of harnessing human potential within the context of structural adjustments.

Ograničen uticaj produktivnosti na izvoz gotove konfekcije i ekonomski rast u Bangladešu

This study investigates the moderating role of labour productivity on the relationship between readymade exports and economic growth in Bangladesh using annual time series data from 1983 to 2019 using the ARDL method. This study examines the moderating impact of labour productivity on the link between readymade garment (RMG) exports and economic growth in Bangladesh taking time series data from the year 1983 to 2019 using the ARDL model. The most important factor that is impacting the competitiveness of Bangladesh's RMG industry is poor labour productivity trends. A long-run positive relationship between RMG exports, labour productivity, and economic growth is observed. The RMG export earnings are significantly improving the economic growth of the country both in the long and short run. The policy implication is improving labour skills, providing training, and the use of information technology in the RMG sector will promote economic growth.

The Spatial Effect of Air Pollution Governance on Labor Productivity: Evidence from 262 Chinese Cities.

According to epidemiological studies, air pollution can increase the rate of medical visits and morbidity. Empirical studies have also shown that air pollutants are toxic to animals. Using data from 262 Chinese cities for the period 2005 to 2018, this study systematically investigated the spatial spillover effect and transmission mechanism of air pollution governance on urban labor productivity. In this study, we also explored the changing trend of labor productivity in China from a dynamic perspective. Additionally, we selected the air flow coefficient and environmental regulations as two instrumental variables of air pollution governance to effectively alleviate endogenous problems existing in the model. The results show that air pollution governance plays a significant role in promoting the improvement of labor productivity. The effect of air pollution governance on labor productivity in eastern cities is better than that in central and western cities, and its effect in developed cities is better than that in undeveloped cities. With the increased intensity of air pollution governance, its effect on labor productivity is also strengthened. Urban innovation capacity and residents’ health are important channels for air pollution governance in the promotion of labor productivity. Finally, this study proposes policy recommendations, such as implementing a joint prevention and governance mechanism, as well as improving air pollution prevention and government regulations.

Recent trends in labor productivity

PurposeUsing the example of Russia, this paper studied and analyzed productivity of the labor force in agriculture as an important industry for ensuring the sustainable development of the country.Design/methodology/approachAt the first examination stage, the time series of data on labor productivity and real wages in agri-food companies were examined as modern works on the matter tend to highlight the relationship between productivity and remuneration insufficiently. At the second stage, labor productivity was assessed through the rate of change in the share of wages in the gross domestic product. At the last stage, an applied model of the relationship between labor productivity in agriculture and various impact factors was developed.FindingsIt showed that the efficiency of the labor force in the considered area depends greatly on technical equipment and crop yield. Besides, the study findings revealed that the traditional economic relationship between productivity and wages is invalid in the examined regions of Russia. There is a significant reserve for increasing labor productivity by providing additional motivation for employees.Originality/valueThe successful development of agricultural production can be achieved by implementing innovations, facilitating digitalization, attracting investments, increasing the level of interest of those employed in labor results and producing high-quality goods.

THE CURRENT ECONOMIC STATE OF THE TOURISM INDUSTRY IN KAZAKHSTAN AND THE ASSESSMENT OF STRATEGIC INVESTMENTS IN ITS DEVELOPMENT (BASED ON MATERIALS FROM THE PAVLODAR REGION OF THE REPUBLIC OF KAZAKHSTAN)

The article examines the current state and economic trends in the functioning of the tourism industry in Kazakhstan. The object of the research is the economy of the Pavlodar region. The subject of the research is the tourism industry and strategic investments in its development. In the course of the study, special attention was focused on the dynamics of the nominal and real contribution of the tourism industry to the regional economy, the territorial distribution of tourism services and their structure, trends in employment and labor productivity, the production capacity of tourism organizations and the state of their fixed capital. When assessing the real contribution of the tourism industry to the development of the economy of the Pavlodar region, the dynamics of demand for tourist services from individuals and legal entities was investigated. For the development of the tourism industry, an integrated analytical assessment of strategic investments was carried out on the basis of forecasting the gross regional product and its growth rates, the share of tourism in the region’s economy, the dynamics of the volume of tourism services, and the return on assets of tourism organizations. Strategic investments in the development of the tourism industry are diversified in two priorities — fixed assets and human resources, including business processes. Implementation of the developed investment policy makes it possible to significantly increase the volume of tourism services in the region, triple labor productivity in the tourism industry, and strengthen the positive trends in the contribution of the tourism industry to the regional economy. The research carried out has a practice-oriented character. The research results will be used in the system of activities of the Regional Department of Tourism and Sports.

Conceptual model of public-private partnership in tourism

The article examines the current state and economic trends in the functioning of the tourism industry of Pavlodar region. The object of the research is the economy of the Pavlodar region. In the course of the study, attention is focused on the dynamics of the nominal and real contribution of the tourism industry to the regional economy, the territorial distribution of tourism services and their structure in the context of types, trends in employment and labor productivity in the industry, production capacity and the state of their fixed capital. When assessing the real contribution of the tourism industry to the development of the regional economy, the dynamics of demand for tourism services from individuals and legal entities was investigated. For the development of the tourism industry in the region, an integrated analytical assessment of strategic investments has been made. Implementation of the developed investment policy makes it possible to significantly increase the volume of tourism services in the region, to strengthen the trends in the industry’s contribution to the economy. The results of the research can be used in the system of activities of regional, regional departments of tourism and sports in the Republic of Kazakhstan.

Business Size, Numbers, Production Value and Productivity Trends in Manufacture and Mining-Quarrying across the EU, 2008-2017

Purpose: The objective of the paper is to empirically estimate and contrast the long-run trends of four business development and performance measures (number, average size, production value, and labor productivity of companies) observed annually across the EU in the manufacturing and mining-quarrying sectors from 2008 to 2017. Design/Methodology/Approach: The paper econometrically isolates the long-run trends from both the autonomous components and the principle medium-term deviations from the trend in the 28 EU member-states by achieving a high level of model fitness while preserving degrees of freedom. Findings: Despite operating in the same legal-competition-funding-export framework, on average, EU businesses exhibit diverse development and performance trends from one member-state to another (within sectors) and from one sector to the other (in the same state), especially in terms of numbers and sizes. However, in most member-states, on average, they exhibit upward productivity in manufacture; and in a good number of states (not necessarily the same states) they exhibit upward labor productivity trends in mining-quarrying and upward (downward) production value trends in manufacture (mining-quarrying). Practical Implications: Business decisions and policy interventions may have to vary from one sector to another across the EU, and from one place to another whthin the two sectors. In addition, by empirically pinpointing in time, space and sector the switches in the trends and the mid-term deviations from the trends, the paper enables future research to identify what caused the said changes, and, thus, draw useful lessons for businesses and for territorial development policy in manufacture or mining-quarrying. Originality/value: A broad, unified view of business life and performance complements the individual sectoral or subsectoral analyses on such matters usually carried out for single member-states or groups of member-states.

Тенденции в производителността на труда в българската минна индустрия

Trends in Labour Productivity in the Bulgarian Mining Industry The paper summarizes the trends in the labour productivity index of the world, European (EU-28) and Bulgarian economies for the 2000-2019 period. It represents a prediction of the International Labour Organization for its development until 2024. The changes in the labour productivity of Bulgaria and the “Industry” sector are examined for the indicated period. They are determined on the basis of current prices and of 2015 prices per employee and per hour worked. The tendencies in the change of the labour productivity for the “Mining and Quarrying“ sub-sector for the 2008-2018 period are described, based on the operating income per employee and on the value added at factor cost per employee, and some conclusions are drawn. Comparison of the realized labour productivity in almost all economic activities in Bulgaria for 2018 is presented.

Improving the Economic Mechanism for Increasing Labor Productivity in Agriculture

The article is devoted to the problems of increasing labor productivity in agriculture in Kazakhstan. It explores the growth trends in labor productivity in the agricultural sector and presents a comparative analysis of individual factors that directly affect labor productivity indicators. The article considers the reasons for the lag of Kazakhstan in terms of labor productivity from developed countries, provides a detailed analysis of the level and dynamics of labor productivity in agriculture in Kazakhstan. The authors of the article calculated indicators of the dynamics of labor productivity and indices of the physical volume of gross agricultural output. Comparative indices of labor productivity in the economy, production of goods and agriculture are presented, an algorithm for analysing the efficiency of labor use of workers in the industry and assessing the reserves of growth in labor productivity were given. The aim of the work is to study the prevailing level of labor productivity and determine ways to increase it and the production efficiency of the agricultural sector. The differentiation of the use of the concepts of labor productivity and the productivity of the economic system was substantiated. The productivity of the economic system in accordance has a broader interpretation and includes the whole set of economic processes, such as labor productivity, marketing, managerial productivity and the creation of new products with high consumer qualities. The goals and objectives of labor productivity at the enterprise level was carried out, areas of responsibility at different managerial levels were decomposed.

Trends in Labor Productivity and Investment: Empirical Observations

Issues are discussed related to Russia’s political and economic objective to become one of the five major economies of the world. It is shown that the continuation of the existing trends in GDP should permit Russia to rise in the coming years from the sixth position to the fifth among the world nations in terms of GDP yet remain in this position only until the end of the 2020s. The authors believe that in the forecast period until 2024, an average annual growth rate of 3% in labor productivity is quite likely. This growth rate suggests better structural ratios for investment and productivity trends and a slightly higher rate of accumulation than at the beginning of the forecast period.

ДИНАМИЧЕСКАЯ МОДЕЛЬ И ПРОГНОЗИРОВАНИЕ ТЕНДЕНЦИЙ ПРОИЗВОДИТЕЛЬНОСТИ ТРУДА В СЕЛЬСКОМ ХОЗЯЙСТВЕ

ДИНАМИЧЕСКАЯ МОДЕЛЬ И ПРОГНОЗИРОВАНИЕ ТЕНДЕНЦИЙ ПРОИЗВОДИТЕЛЬНОСТИ ТРУДА В СЕЛЬСКОМ ХОЗЯЙСТВЕ

Trends in employment and labour productivity in the woodworking industry in selected EU countries

Trends in employment and labour productivity in the woodworking industry in selected EU countries. Labour productivity and employment levels are among the most important factors determining the development of enterprises, regardless of the nature of their economic activity. From the point of view of the furniture industry, whose significant position in the ranking of producers and exporters is influenced by the woodworking industry, the main supplier of raw material for production, it seems important to analyse the dynamics and structure of employment, as well as to assess the use of human resources in wood processing companies. The main objective of the paper was to compare selected aspects of the labour market and the efficiency of human resources use in the European Community, with particular emphasis on the countries belonging to the Visegrad Group. The research was supplemented by a detailed analysis of men employed in the woodworking industry and their belonging to particular age groups. On the basis of the conducted analyses it was indicated that there are differences in the aspect of production potential, employment level and labour productivity.

The trends in employment and labour productivity in the pulp and paper industry in the selected EU countries

The Trends in Employment and Labour Productivity in the Pulp and Paper Industry. Despite many challenges, the pulp and paper industry is a dynamically developing branch of industry in the world. It seems that especially growing competition from less developed countries, such as Indonesia, and the falling demand for paper may be reasons for the difficulties of pulp and paper factories, i.e. decreasing profitability of paper production and number of employed in this industry in recent years. From the perspective of the employment volume and related work efficiency, it was interesting to examine and assess employment and the use of human resources in pulp and paper industry, especially in the countries of the Visegrad Group, which economies have been characterized by stable GDP growth in recent years. The paper analyses the value of pulp and paper industry production and its structure in the Visegrad Group countries relative to EU28 countries and employment and age structure of the employed

Secular stagnation? Is there statistical evidence of an unprecedented, systematic decline in growth?

So far it is difficult to establish firm evidence that the recent decline in growth is indeed systematic, unprecedented, and significant. In order to provide more statistical evidence of a decline in economic growth, we use a data-driven nonparametric estimation approach which improves boundary estimators, using an extended iterative plug-in (IPI) algorithm to determine the bandwidth endogenously. We identify continuously Moving Trends (MT) with a length of 18 years for US GDP. Two introduced tests demonstrate a persistent decline in US trends and growth rates since the dot.com bubble. Hence, the 2008 financial crisis merely revealed that GDP, labor, and multi-factor productivity trends were already stagnating.

Determinants of labour productivity: Comparison between developing and developed countries of Asia‐Pacific

AbstractThe current study investigates the trends in labour productivity of the major developing and developed economies of the Asia‐Pacific region and examines its determinants over the period 1980–2014. The study analyses capital deepening, human capital, technology, share of agriculture in GDP, financial development, institutional quality, inflation as well as macroeconomic variables as potential determinants of productivity, and identifies the differences in the impact of these factors on the productivity of developing and developed countries.Using panel cointegration and group‐mean fully modified ordinary least squares estimation, the study finds that capital deepening, human capital, technology, institutional quality and macroeconomic variables (i.e. government size and openness) are significant determinants of labour productivity of both developing and developed economies of the Asia‐Pacific region. The study further finds that while both trade openness and foreign direct investment affect productivity of developing economies positively, only trade openness has a positive and significant impact on the productivity of developed economies. The share of agriculture in GDP affects the labour productivity of developing Asia‐Pacific economies significantly but not that of developed economies. Furthermore, capital deepening has a much higher impact on the productivity of developing Asia‐Pacific economies than that of developed economies.

ТЕНДЕНЦИИ В ДИНАМИКЕ ПРОИЗВОДИТЕЛЬНОСТИ ТРУДА В РОССИЙСКОЙ УГОЛЬНОЙ ПРОМЫШЛЕННОСТИ (1992–1999 гг.)

ТЕНДЕНЦИИ В ДИНАМИКЕ ПРОИЗВОДИТЕЛЬНОСТИ ТРУДА В РОССИЙСКОЙ УГОЛЬНОЙ ПРОМЫШЛЕННОСТИ (1992–1999 гг.)

The small and large business interaction within national economy?s gross added value reproduction in Ukraine

Research background: The main background of this article is the thesis that sectors of small business and large business respond differently to shifts in macroeconomic conditions.
 Purpose of the article: This article is devoted to empirical evidence whether there are signs of small business ability to compensate for negative trends, emerging in the sectors of large and medium-sized business in Ukraine.
 Methods: The dynamics of gross value added was chosen as the main indicator of small business potential to create compensatory effect for reduction in employment, share of value added and GDP, observed in sector of large and medium-sized business. For factor analysis of actual gross added value dynamics, the authors have built a multiplicative term, which expresses the different characteristics of economic activity in small, large and medium-sized business impact on the gross added value dynamics. The authors have also evaluated the specific impact of these factors using the method of chained substitution.
 Findings & Value added: The results obtained by factors analysis did not prove the thesis about small business capacity to compensate for the negative trends observed in the sector of large and medium business. The trend of economic activity in small business sector, trend of labor productivity, and trend in dynamics of added value share in small business output were causes of gross value added decreasing in the national economy during the period researched. These results can be interpreted as a sign that in case of unchanged quality indicators of economic activity in small business sector (in the first turn, the labor productivity and share of value added in output) this sector ability to compensate for negative trends in large business will be very doubtful.

Перспективи зростання економіки України на фоні глобальних трендів

Перспективи зростання економіки України на фоні глобальних трендів