The OECD measured New Zealand's recent productivity growth against the OECD average.
We're not even average.
... aaaand here, by comparison, is New Zealand's growth in employment:
That's the measure of how many more folk it took to do that little bit more.
So we've had decent growth.
Just not in productivity.
Is this a measure of how much we're restrained here by regulation and the incessant whine of the grey ones in our ear?
A lack of capital?
Or is it something wrong with our nous?
What do you think ... ?
[Hat tip Eric Crampton]
* Yep, construction is an outlier. I'm not sure how productivity is measured here, but I imagine that's a reflection of how many more townhouses and apartments have been built in recent years, as opposed to stand-alone dwellings.
1 comment:
Keep in mind this is just showing change in productivity, not how productive things actually are. I understand that in real terms, our agricultural efficiency (ability to produce food with minimal resources) is up there as one of the best, even if it didn't improve in this period.
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