This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries. It includes measures of labour productivity, capital productivity and multifactor productivity, as well as indicators of international competitiveness. A special chapter analyses how productivity and wages have evolved in the post-crisis period, while describing the major challenges in measuring the wage-productivity gap and the labour income share.
The labour share of income has been declining in most economies over the last two to three decades. In some countries, though, this share has stabilised or shown tentative signs of improvement post crisis. Movements in the labour share of income align with movements in labour productivity growth and real labour compensation, when the latter is deflated with the same price index used to deflate value added. However, a decoupling between real labour compensation growth, deflated by consumer price inflation, and labour productivity growth was observed in some countries. This suggests that the current stabilisation in labour income shares may not necessarily arrest concerns about material well-being and rising inequalities.
Labour productivity and average labour compensation per hour in G7 countries
GVA per hour worked and average hourly labour compensation, indices 1995=100
Moreover, slower rates of productivity growth in the post-crisis period may have limited the scope of employers to provide significant real wage increases, which is partly reflected in the slowdown in real wage growth observed in most OECD countries since the crisis.
Growth in average compensation per hour worked (employees)
Total economy, deflated by CPI-all items, percentage change at annual rate
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The OECD Productivity Statistics database contains more and longer time series than presented in the publication. Data are available from 1970 onwards for some countries. The database is updated on a daily basis.
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