Labour productivity increased by 2.2% in Q2 of 2023Kenneth FoxLabour productivity for the domestic sector (€55.2 per hour) increased by 2.2 per cent in Quarter 2 2023 compared with the previous quarter, according to the Central Statistics Office (CSO),Labour productivity for the foreign sector (€414.5 per hour) also rose by 2.2 per cent, while total economy labour productivity (€105.5 per hour) was up by 2.3 per cent. They said there were significant increases in labour productivity for manufacturing (domestic: 14.4 per cent, foreign: 5.8 per cent) following reductions in the previous quarter. Labour productivity measures the amount of output per hour worked in a sector, so the growth in productivity for Q2 2023 indicates that the economy became more efficient compared with the previous quarter. Several domestic sectors saw reductions in labour productivity in Q2 2023 such as transportation & storage (-7.1 per cent), construction (-4.1 per cent) and accommodation & food (-3.8 per cent). Multifactor productivity for the domestic sector grew by 2.4 per cent, while the foreign sector was up by 3.5 per cent.

Source: Irish Independent October 11, 2023 23:28 UTC