Significant Q2 increases in labour productivity
CSO data show that labour productivity for the domestic sector (€55.2 per hour) increased by 2.2% in Q2, compared with the previous quarter.
Labour productivity for the foreign sector (€414.5 per hour) also rose by 2.2%, while total economy labour productivity (€105.5 per hour) was up by 2.3%.
There were significant increases in labour productivity for manufacturing (domestic: 14.4%, foreign: 5.8%) following reductions in the previous quarter.
Measure
Multi-factor productivity, a more detailed measure, grew by 2.4% for the domestic sector, while the foreign sector was up by 3.5%.
The level of capital services in the domestic sector declined by 0.4% in Q2, while foreign capital services were also down by 1.2%.
Statistician Seán O’Boyle said: “Labour productivity measures the amount of output per hour worked in a sector, so the growth in productivity for Q2 2023 indicates that the economy became more efficient compared with the previous quarter.”
Professional, scientific and technical activities saw a productivity rise of 5.1%, and financial and insurance activities were up by 3.5%.
Domestic transportation and storage was down 7.1%, while construction fell by 4.1% and accommodation and food dropped by 3.8%.