In general, the production result for a given labor input. There are various methods of measurement. Central banks generally calculate: gross domestic product at constant prices divided by the total number of employees or hours worked. The ECB continuously monitors labor productivity under the two-pillar principle and calculates and statistically reports it as value added per person employed. – In the ECB’s calculations, labor productivity is broken down into – the increase in physical capital (capital deepening), – the increase in the quality of labor, and – the growth rate of total factor productivity, TFP; this is a specially estimated measure of factor-independent technical progress that is associated with the use of all input factors, such as the electrification of production (disembodied technological progress; also referred to as exogenous and autonomous technical progress): Inventions and discoveries that do not come [directly] from the production process). – See compensation per capita, labor costs, labor market flexibility, labor productivity, potential labor force, capital deepening, communication costs, wage drift, offshoring, productivity, hourly productivity. – See the annex “Euro area statistics” in the respective ECB Monthly Bulletin, heading “Prices, output, demand and labor markets,” subheading “HICP, other price and cost measures.”
(broken down by economic activity), ECB Monthly Bulletin, October 2005,
pp. 52 ff. (textbook presentation; overviews), ECB Monthly Bulletin of April 2006, pp. 45 ff. (figures on developments since 1981 in individual sectors), ECB Monthly Bulletin of October 2006, p. 55 (projection of labor productivity developments up to 2050); ECB Monthly Bulletin of April 2007, pp. 92 f. (structural policy measures in their effects on productivity and employment); ECB Monthly Bulletin of January 2008, pp. 51 ff. (trends; sector-specific data; overviews), pp. 67 ff. (detailed presentation. P. 71: overview of labor productivity developments since 2002 overall and broken down into individual sectors), ECB Monthly Bulletin of June 2008, pp. 76 ff. (comparison of labor productivity developments between the euro area and the U.S. 1995 to 2007; overviews), ECB Monthly Bulletin of December 2009, pp. 86 ff. (development of labor productivity since 1999; overviews, also comparisons with the U.S.), ECB Monthly Report of July 2010, p. 34 f. (development of labor productivity in the euro area since 2008), ECB Monthly Report of January 2011, p. 84 ff. (factor productivity in individual euro area member countries; overviews; references), Deutsche Bundesbank Monthly Report of April 2012, p. 25 f. (estimate of labor productivity up to 2020).
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