Estimates of labour productivity for Scotland’s onshore economy up to the fourth quarter of 2018 (October-December) were announced today by Scotland’s Chief Statistician.
Key figures in the latest release are:
• in 2018 Quarter 4, labour productivity in Scotland, measured by output per hour worked, has increased by 2.3% in real terms (inflation adjusted) compared to the same quarter last year
• compared to the previous quarter, labour productivity is estimated to have grown by 0.5% in 2018 Quarter 4, following zero growth (0.0%) in the previous quarter
• in 2018, annual labour productivity increased by 3.8% compared to 2017
Labour productivity measures the average amount of economic output that is produced by a unit of labour input (measured in this release in terms of jobs and hours worked).
NOTE: These are complex stats and worth clicking on the link in the article to get useful graphs and charts. Boil it down – the ‘baseline’ year for collecting the stats is 2007 (when SNP Scottish Govt elected) – The ‘baseline’ year measurement for all 3 categories = 100 (Gross Value Added = 100, Output per hour = 100, Output per job = 100). Over intervening years consistent upward trends achieved in all 3 areas and values for 2018 = GVA (108.3), Output per hour (110.8), Output per job (109.3). The consistent upward trend is indicative of a positive climate for economic output being achieved during the successive SNP Scottish Govt terms of office.
Too wee – NO. Too poor – NO. Too stupid – NO. – Let’s get ourselves Indy folks – lots of good stuff needing to be done (pronto) in this (beautiful, wonderful but mistreated) old world of ours – and being held back by Westminster/Whitehall elite sclerosis and greed is doing no-one any good at all.