| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:'Abolishing Eton' and the impact on Ealing | |
| Posted by: | Vlod Barchuk | |
| Date/Time: | 26/09/19 16:42:00 |
| Productivity is a somewhat bogus statistic. If you sack the 10% least efficient in the workforce, average productivity would go up because it only measures what people in work are doing. France's labour restrictions make it very difficult for low value businesses to survive, which may seem grand to some but not those who might otherwise have a low paying job. It's also been the case that UK workers were willing to accept pay cuts after the 2008 crash to keep their jobs, thus stifling productivity growth but keeping employment levels high. And if that doesn't make productivity seem misleading enough, there's a suspicion that the statisticians haven't really worked out how to measure properly the benefits of the digital economy, hence it doesn't fully show up in productivity figures. |