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OECD Compendium of Productivity Indicators 2015

image of OECD Compendium of Productivity Indicators 2015

Productivity is a key source of economic growth and competitiveness. The OECD Compendium of Productivity Indicators 2015 presents a comprehensive overview of recent and longer term trends in productivity levels and growth in OECD countries. It also highlights key measurement issues faced when compiling cross-country comparable productivity indicators.

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International competitiveness

Despite their frequent use, unit labour costs (ULC) are an incomplete measure of international competitiveness and they need to be complemented with other indicators. In an era of global value chains, a measure based only on the costs of domestic labour may not be representative of overall cost competitiveness of firms within a country. Moreover, ULC as a measure of price-competitiveness cannot capture the capacity of firms to serve international markets through high quality goods and services and where demand is relatively price inelastic.

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