OECD Compendium of Productivity Indicators 2024 / OECD.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Language:

English

Subjects (All):

Production (Economic theory).

Government productivity.

Physical Description:

1 online resource (71 pages) : illustrations

Place of Publication:

Paris : OECD Publishing, 2024.

Summary:

This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries and selected G20 economies. The different chapters feature an analysis of latest developments in productivity, economic growth, sectoral reallocation, investment, labour productivity by firm size and labour income. This edition also includes a special chapter providing insights of productivity developments in 2023 based on experimental estimates for 38 OECD countries.

Contents:

Reader's guide 5

1 Overview 7

2 Insights on productivity developments in 2023 15

3 Cross-country comparisons of labour productivity levels 23

4 Productivity and economic growth 35

5 Industry contributions to aggregate labour productivity growth 45

6 Productivity in SMEs and large firms 51

7 Investment 57

8 Labour income and productivity 63

FIGURES

Figure 1.1. Euro area, OECD and United States: Labour productivity growth 8

Figure 1.2. Country breakdown of labour productivity growth in 2022 9

Figure 1.3. Multifactor productivity growth in 2022 10

Figure 1.4. United States: Multifactor productivity growth 10

Figure 1.5. Contributions to labour productivity growth in OECD countries in 2022 11

Figure 2.1. Labour productivity growth by region 16

Figure 2.2. Labour productivity growth in selected OECD countries 17

Figure 2.3. Labour productivity growth in 2023 17

Figure 2.4. Main steps of the empirical strategy 18

Figure 2.5. Model performance across OECD countries 19

Figure 2.6. In-sample errors are lower in large economies 20

Figure 3.1. Relative size of world economies 24

Figure 3.2. Relative size of the workforce in OECD economies, based on hours worked 26

Figure 3.3. Relative size of the workforce in OECD economies, based on employment 27

Figure 3.4. Comparison of average hours worked across countries 27

Figure 3.5. Labour productivity in 2022 30

Figure 3.6. Labour productivity dispersion 31

Figure 3.7. Labour productivity comparison across countries 31

Figure 4.1. OECD: Contributions to annual GDP growth: labour productivity, hours worked, and persons employed 37

Figure 4.2. United States: Contributions to annual GDP growth: labour input, capital services and multifactor productivity 38

Figure 4.3. United States: Contributions to annual labour productivity growth: capital stock-to-output ratio, capital quality and multifactor productivity 41

Figure 5.1. United States: Decomposition of labour productivity growth 46

Figure 5.2. United States: Industry contributions to overall reallocation effect 47

Figure 5.3. United States: Industry contributions to within-industry effect 48

Figure 6.1. Labour productivity in SMEs and large firms, business economy 52

Figure 6.2. Labour productivity in SMEs and large firms, manufacturing 53

Figure 6.3. Labour productivity in SMEs and large firms, business services 53

Figure 7.1. G7 countries: Gross fixed capital formation 59

Figure 8.1. France: Labour productivity and real average labour compensation, total economy 65

Figure 8.2. France: Labour productivity and real average labour compensation, total business economy

excluding primary and real estate activities 65

Figure 8.3. Changes in labour income shares 66

TABLES

Table 2.1. Best model selection based on one-year ahead RMSE 19

Table 7.1. Breakdown of fixed capital assets according to the System of National Accounts 2008 60.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-59768-9