Cain Baybutt

1. Main points Labour productivity Output per hour worked in Quarter 1 (Jan to Mar) 2022 was 1.7% higher than the average level in 2019, prior to the coronavirus (COVID-19) pandemic, but 0.6% lower than in Quarter 4 (Oct to Dec) 2021. Output per worker was 7.2% higher in Quarter 1 2022 relative to Quarter 1 2021 and was 1.4% above its pre-coronavirus pandemic levels. Growth accounting In Quarter 1 2022, multifactor productivity (MFP) was still 0.5% above the 2019 pre-coronavirus pandemic average.

10. Strengths and limitations Most of the data in this publication are sourced from the Organisation for Economic Co-operation and Development (OECD), which in turn sources most of its data from national statistical institutes. The measurement of gross domestic product (GDP) is governed by international standards, which are very similar across all G7 countries. This ensures a high degree of consistency of GDP across countries, ensuring a fair comparison in the productivities of different countries.