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Story perspectives

Modest Labour Productivity Growth Hindered by Sector Shifts

7/16/2025

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Summary

Story summary

Labour productivity is defined as real gross value added per hour worked, referred to as apparent productivity.
From Q1 2000 to Q1 2025, productivity growth was modest: 0.7% (2000-2007), 3.8% (2013-2019), and 2.5% (2019-2025).
A negative composition effect hindered productivity growth across all periods, highlighting sector shifts that lowered overall productivity.

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Story summary

Labour productivity is defined as real gross value added per hour worked, referred to as apparent productivity.
From Q1 2000 to Q1 2025, productivity growth was modest: 0.7% (2000-2007), 3.8% (2013-2019), and 2.5% (2019-2025).
A negative composition effect hindered productivity growth across all periods, highlighting sector shifts that lowered overall productivity.