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Labour Productivity Falls 0.9 Percent
Labour productivity fell 0.9 percent in the year ended March 2023, according to figures released by Stats NZ today.
The 0.9 percent fall in labour productivity was the largest fall since 2009. It follows a rise of 1.0 percent in the year ended March 2022.
Labour productivity measures the quantity of goods and services (output) produced per hour of labour.
“A fall in labour productivity means that we are producing less output per hour of labour,” national accounts industry and production senior manager Ruvani Ratnayake said.
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