Employment and labour market: ONS has today published its latest productivity figures.
They show that in Quarter 2, 2018, UK labour productivity grew by 1.4% compared with Quarter 2 2017, however productivity is still performing well below the 2% average.
For the first time we’ve also published quarterly estimates of multi-factor productivity, in Quarter 2 this grew by 0.8%, compared to 1.7% for market sector output per hour.
Alongside the headline labour productivity figures we also published: a guide explaining how ONS measures multi-factor productivity and an article analysing the importance of information and communication technologies for business productivity.
Head of Productivity Katherine Kent said:
“ONS is now publishing more information on productivity than ever before, with new data being published today looking at key elements that can lead to productivity improvements.
“Our headlines estimates show annual labour productivity is up for the seventh consecutive quarter, although growth continues to lag behind the long term historical trend.”
Productivity growth still lags pre-2008 levels, a decade on from the financial crisis. Anne Sheehan, Vodafone UK’s Enterprise Director, believes that to tackle the ‘productivity puzzle’ one step we need to take is to focus on the day-to-day working life of individual businesses and their employees. She suggests that technology offers a way to overcome some of the processes that can bring down productivity levels.
Anne Sheehan said: “Whether it’s task management apps or collaboration tools, technology offers a huge opportunity to supercharge productivity. To achieve this, we need to look at what the drivers are for individual businesses and the people behind them.
“According to our research, only a third of UK employees believe they are ‘very productive’ at work, while over half said that it is work processes that can hinder productivity.
“Looking closer at what makes people feel productive at work, we can see that enabling smarter working practices through using technology can deliver huge value. The key is to connect people, processes and information in a way that unlocks a workforce’s ability to do their best work.”