News

Voice of the Employee

UK workers’ productivity fell again in the final three months of last year, down by 0.1% compared with the same quarter a year ago. It was the second year-on-year quarterly fall in a row, after a 0.2% drop in the July-to-September period.

The Office for National Statistics (ONS) said the “productivity puzzle” had been a problem for years. It said labour productivity was lower over the past decade than at any time in the 20th Century.

“It has taken the UK a decade to deliver 2% growth, which historically was achieved in a single year,” said ONS deputy chief economist Richard Heys.

Although it was down compared with the final quarter of 2017, productivity over the final three months of 2018 was 0.3% higher than in the July-to-September period.

Productivity – as measured by the amount of work produced per working hour – is the main driver of long-term economic growth and higher living standards.

However, growth has been sluggish over the past decade as the UK economy has recovered from the downturn triggered by the financial crisis.

The ONS said productivity in the fourth quarter of 2018 was 18.3% below its pre-downturn trend.

You may also like...

Keep Up To Date - Subscribe To Our Email Newsletter Today

Get the latest industry news direct to your inbox on all your devices.

We may use your information to send you details about goods and services which we feel may be of interest to you. We will process your data in accordance with our Privacy Policy as displayed on our parent website https://ebm.media