Specifically, labour productivity refers to the quantity of labour input required to produce a unit of output.
A report entitled Labour Productivity in Nigeria (Q2 2015), released weekend by the National Bureau of Statistics, NBS, also shows that the rise in productivity was achieved despite a decline in total number of man-hours worked.
Man-hour input declined to 31.3 billion in the quarter from 31.5 billion in the preceding quarter.
The report, therefore, indicates that Nigerian workers produced more level of nominal output in second quater than first quarter 2015, working 0.7 percent less hours.
With nominal Gross Domestic Product, GDP, rising year-on-year, Y-o-Y, by 5.17 percent (and real GDP of 2.35 percent) in the presence of a reduction in number of hours worked in the quarter by 0.7 percent, labour productivity growth by 9.1 percent would have indicated increased labour efficiency, but NBS was cautious.
The Bureau stated: “Given seasonality and its effects in Nigeria on output and labour hours, we are cautious not to draw cause effect relationships and make other inferences from this rise in labour force productivity in second quarter until full year 2015.”
Among the key measures of the well being of an economy is the level and growth of economic output, commonly known as the GDP.
However, economists and policy makers are also interested in the factors of production that are used in generating such output, as well as the level of efficiency associated with those inputs.
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