UK Productivity

Overall UK Productivity statistics show slight improvement over the last 2 quarters although down from last year according to the lastest statitics published by the ONS.
The statistics could start some interesting discussions on business sector performance.
Whole economy Unit Labour rates increased by 3.3% year on year with Manufacturing labour rates showing an increase of 6.6%.

When you compare the whole economy productivity “output per job” improved, however “output per hour worked” decreased.
This effect is seen in the Services sector, however in Manufacturing and Production both output per jobs and output per hour shows a decrease both year on year and quarterly.

Why do we see jobs productivity increase and hours decrease? This could indicate fewer jobs but those in work working longer hours.

In Manufacuring subsections, the Computer and Electrical sector was the only sector to show year on year improvement in both jobs and hours productivity.
Wood, Metals and Computer sectors showed productivity improvements in both jobs and hours over the previous quarter.
The Textiles subsection was the worst performing from productivity statistics.
In Services, the Admin, Government and Arts subsections showed productivity improvements both year on year and quarterly.
Agriculture also showed increases in productivity both year on year and quarterly.

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