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Productivity in sentence

2837 examples of Productivity in a sentence

Moreover, the high payroll taxes needed to finance these benefits constitute another deterrent to hiring, as does the high minimum wage, which tends to price unskilled labor above its potential productivity.
But the gap between the economies of the Arab Middle East and Western Europe--in (non-oil sector) productivity, technological capability, and standards of living--is wider than it was a century ago, and vastly greater than at the start of the Industrial Age.
First, unit labor costs needed to decline toward productivity levels to restore competitiveness – a painful process without the exchange-rate mechanism.
Second, both capital and labor needed to flow to the tradable sector, where demand constraints can be relaxed as relative productivity converges.
One is that, unlike Spain, Italy has experienced relatively little convergence of unit labor costs with productivity.
Because of this fragility, few countries have been able to establish highly productive scientific enterprises, even though scientific innovation and technological breakthroughs are crucial to a country’s productivity, economic growth, and influence.
They also spawn new local companies that serve as suppliers, thereby boosting employment, augmenting workers’ skills, improving productivity, and increasing government revenue.
Others look forward to the vast economic opportunities that robots will present, claiming, for example, that they will improve productivity or take on undesirable jobs.
Given that the computer system does not need things like food, that thousand-fold increase in productivity will redound entirely to the benefit of the middle class.
Similarly, the wages and salaries of low- and high-skill workers in the robot-computer economy of the future will not be determined by the (very high) productivity of the one lower-skill worker ensuring that all of the robots are in their places or the one high-skill worker reprogramming the software.
The newly industrialized city of Manchester, which horrified Friedrich Engels when he worked there in the 1840s, had the highest level of labor productivity the world had ever seen.
But the factory workers’ wages were set not by their extraordinary productivity, but by what they would earn if they returned to the potato fields of pre-famine Ireland.
From 1850 to 1970 or so, rapid technological progress first triggered wage increases in line with productivity gains.
Populists and ProductivityNEW YORK – Since the global financial crisis erupted in 2008, productivity growth in the advanced economies – the United States, Europe, and Japan – has been very slow both in absolute terms and relative to previous decades.
But this is at odds with the view, prevailing in Silicon Valley and other global technology hubs, that we are entering a new golden era of innovation, which will radically increase productivity growth and improve the way we live and work.
Breakthrough innovations are evident in at least six areas:At the macro level, the puzzle is why these innovations, many of which are already in play in our economies, have not yet led to a measured increase in productivity growth.
A second explanation is that we are overlooking actual output – and thus productivity growth – because the new information-intensive goods and services are hard to measure, and their costs may be falling faster than standard methods allow us to gauge.
But if this were true, one would need to argue that the mis-measure of productivity growth is more severe today than in past decades of technological innovation.
A third explanation is that there is always a lag between innovation and productivity growth.
In the first Internet revolution, the acceleration in productivity growth that started in the technology sector spread to the overall economy only many years later, as business- and consumer-facing applications of the new digital tools were applied in the production of goods and services far removed from the tech sector.
This time, too, it may take a while for the new technologies to become widespread and lead to measured increases in productivity growth.
There is a fourth possibility: Potential growth and productivity growth have actually fallen since the financial crisis, as aging populations in most advanced economies and some key emerging markets (such as China and Russia), combined with lower investment in physical capital (which increases labor productivity), have led to lower trend growth.
First, if workers remain unemployed for too long, they lose their skills and human capital; second, because technological innovation is embedded in new capital goods, low investment leads to permanently lower productivity growth.
The reality is that we don’t know for sure what is driving the productivity puzzle or whether it is a temporary phenomenon.
But if weak productivity growth persists – and with it subpar growth in wages and living standards – the recent populist backlash against free trade, globalization, migration, and market-oriented policies is likely to strengthen.
Thus, advanced economies have a large stake in addressing the causes of the productivity slowdown before it jeopardizes social and political stability.
Labor economists focus not only on how trade unions can distort markets, but also how, under certain conditions, they can enhance productivity.
Last, but not least, the US productivity boom is decelerating.
While staff sometimes pointed to booming credit, gaping current-account deficits, or stagnant productivity, they downplayed the implications.
Oil-producing countries can either cut consumption, or maintain it by improving productivity.
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