4 ms·
GDP / (average annual labor hours * number of people working in some way)? GDP is a pretty rough metric for efficiency, but it's among the better ones that are
by pgeorgi 3y ago
GDP / (average annual labor hours * number of people working in some way)?
GDP is a pretty rough metric for efficiency, but it's among the better ones that are collected somewhat uniformly.
"average hours worked * number of people working" is an approximation of total of person-hours worked (approx. because both numbers are probably cleaned up a bit in incompatible ways)
The result would be the value a person in the country contributes to the GDP every hour (on average), which should serve as a reasonably proxy for efficiency.
- Aloisius 3y agoNo need to approximate anything ourselves, GDP per hour worked is a standard indicator of productivity. Germany is slightly behind the US. https://www.oecd-ilibrary.org/economics/gdp-per-hour-worked/indicator/english_1439e590-en https://www.oecd-ilibrary.org/economics/gdp-per-hour-worked/... Of course, efficiency can mean things beyond productivity.
- eqvinox 3y agoThe fact that Ireland leads this one is a strong hint at this also being not very useful: it's distorted by shell corporations and the likes. Ireland is the tax haven of choice for the entire EU in terms of digital services. Is there a "GDP of only the industrial sector"?