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Productivity threat to recovery

A slump in productivity growth could jeopardise the UK's recovery. Figures this week showed that a net 345,000 people moved into work in the three months to April, the biggest rise since records began in 1971. This means employment has rising even faster than output, implying a drop in productivity. The ONS estimates that the total hours worked rose 1.5 per cent in the three months to April, but the NIESR estimates that GDP grew by only 1.1 per cent then.

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By Chris Dillow,
13 June 2014

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Chris Dillow

Chris spent eight years as an economist with one of Japan's largest banks. Here, he provides insightful commentary on the latest economic news and data, along with thought-provoking articles about investor behaviour.

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