Productivity growth remains flat
1 July 2014
Labour productivity in the UK changed little during the first quarter of this year, according to figures from the Office of National Statistics.
Tue, 1 Jul 2014Labour productivity in the UK changed little during the first quarter of this year, according to figures from the Office for National Statistics.
Output per hour grew by 0.2% in service industries and by 0.5% in production industries.
The data also showed whole economy unit labour costs increased by 0.1% in the first quarter 2014 and were 1.4% higher than a year ago, continuing the slow rate of growth of recent quarters.
Manufacturing unit wage costs decreased by 1.8% in the first quarter of 2014 and were 0.3% lower than the previous year. This is the first quarter since 2012 where there has been a year-on-year fall in manufacturing unit wage costs.
Ian Brinkley, chief economist at The Work Foundation, Lancaster University, said that flat productivity growth gave “little scope” for many employers to increase wages.”
Output per hour grew by 0.2% in service industries and by 0.5% in production industries.
The data also showed whole economy unit labour costs increased by 0.1% in the first quarter 2014 and were 1.4% higher than a year ago, continuing the slow rate of growth of recent quarters.
Manufacturing unit wage costs decreased by 1.8% in the first quarter of 2014 and were 0.3% lower than the previous year. This is the first quarter since 2012 where there has been a year-on-year fall in manufacturing unit wage costs.
Ian Brinkley, chief economist at The Work Foundation, Lancaster University, said that flat productivity growth gave “little scope” for many employers to increase wages.”
