Figures released by the Office of National Statistics this morning has found that the UK labour productivity fell by 1.3 per cent in the first quarter of 2012 on a per hour basis.
Labour market productivity in manufacturing fell by 2.6 per cent in the first quarter of 2012, the deepest drop in Labour productivity since the fourth quarter in 2008.
Labour productivity measure the amount of real (inflation adjusted) economic output that is produced by a unit of labour input (in terms of workers, jobs and hours worked) and is a key indicator of economic performance.
While figures show that the number of workers in the total Labour market increased, the number of hours worked increased by 0.9, which has lowered the productivity of the workforce.
The full figures on the labour productivity is available here
