How much GDP output does one hour of work produce on average?
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Labour productivity is is the amount of goods and services that a group of workers produce in a given amount of time. It’s an interesting qualitative indicator of the labour input.
We can see on this map, that the western half of Europe has a much higher labour productivity than the eastern half. Service based economies usually have a higher labour productivity. The highest labour productivity can be found in Ireland ($125.09), followed by Norway ($100.33) and Switzerland ($82.92).
Bulgaria has the lowest labour productivity in Europe ($26.55), followed by Russia ($29.55) amd Croatia ($32.26).
This data comes from the University of Groningen.
Ireland is an offshore haven for US tech companies putting their earnings through there. Norway is an oli producing giant, while Switzerland, we all know about.