Which nations in the world have the most productivity, in terms of dollars, per hour worked? This question can be answered in this video made on the Statistics and Data channel. Let’s see together the Top 15 Countries by Productivity per Hour Worked – 1950/2017.
Top 15 Countries by Productivity per Hour Worked – 1950/2017
The top country in the world for this metric in 2017 is Ireland. In fact, Ireland has a value of nearly $100 per hour worked. This is followed by Norway with more than $80 per hour and Switzerland with $69. In 1950 the top nation in the world for productivity per hour worked was the United States. The benchmark in this case was just over $18 per hour. This was followed by Switzerland with $14.34 and Australia with $12.91 per hour. In 70 years the growth has therefore been more than 5 times from 18 dollars in the USA to almost 100 in Ireland in 2017.
How is the parameter calculated? (Source Our World in Data). “Labor productivity per hour is measured as gross domestic product (GDP) per hour of work. GDP is measured in constant 2011 international-$, which means it is adjusted for price differences between countries (PPP adjustment) and for inflation to allow comparisons between countries and over time”.
Evolution from 1950 to 2017
Source and links
The video was created using the “National accounts, ICP benchmark data” database. Also used were present on the Our World in Data site.
To see the video on: Top 20 Countries by Real GDP per Capita – 1950/2017.