Labor productivity rising faster in Europe
Though the United States remains out in front of Europe in manufacturing, Europe's "labor productivity" in the business sector has grown at a faster rate in recent decades, according to the World Economic Forum's 1999 Global Competitiveness Report. The figures cited measure "output per employed person," calculated using total GDP and employment figures. Trends in labor costs come into play, says the report.
Sources: OECD; WORLD ECONOMIC FORUM
(c) Copyright 1999. The Christian Science Publishing Society