is labour productivity. In general sense, the productivity of labour is a measure of how much is produced, on average, for every hour that is worked. Labour productivity is heavily dependent on the quality of the workforce, that is, the overall education level, skills, experience, health and level of motivation. If a firm is able to become more efficient through investment in capital, then obviously the demand for labour will decrease. An increase in labour productivity can either have a positive…
Words 1463 - Pages 6