Wednesday, 16 March 2011

Productivity up - due to unemployment?

Productivity is up 3.7% for the 2009 - 2010 year. This compares with an average of 0.9% growth from 2006 - 2009. It's the highest it's been in 10 years.

The Standard says this is because unemployment's up. If that was the case, you'd expect there to be stronger correlation between poor productivity performance and low unemployment. As you can see from the graph above, unemployment has shot up following the global financial crisis in 2008.

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