The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.
Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's AheadTM including webcasts, publications, data and analysis, plus discounts to conferences and events.
April 21, 2022 | Chart
Among major economies and regions, the United States has the highest rate of production of goods and services per hour worked, with only a few small European economies outperforming it. Productivity rates in most parts of the world are well below the US’. Indeed, according to research conducted by The Conference Board, nearly 75% of the global population lives in economies where productivity rates are below the global average of US$21.6 per hour worked. In the past, there was a mixed record of other economies catching up with US productivity leadership. Major European economies converged towards and in some cases exceeded US rates in the 1990s, but have since fallen behind. Japan also saw convergence with the US wane around that time. Among major emerging economies, some have fallen further behind the US, such as Mexico and Brazil, while others (particularly in Asia) continue to converge. Productivity rates in large Asian economies such as China, India and Indonesia are still well below the US’s (about 10-20 percent), suggesting substantial catchup potential remains. For more information about productivity trends around the world, please see our new report Global Labor Productivity: Stagnating, But Still Above Prepandemic Levels
AUTHOR
OTHER RELATED CONTENT
RESEARCH & INSIGHTS
WEBCASTS
COUNCILS
BRIEFS
Developed Market Central Bank Watch - March 2024
April 04, 2024
October retail sales slip as economy starts to cool
November 15, 2023
Inflation continued to moderate in October
November 14, 2023
Fed continued to tighten in March despite banking turmoil
March 22, 2023
