In the business sector, output per hour is referred to as labor productivity, sometimes known as workforce productivity.
The hourly production of a nation's economy is measured by labor productivity. It displays data on the real gross domestic product (GDP) generated by an hour of labor. Three primary components—saving for and investing in physical capital, modern tech, and human capital—are necessary for increasing labor productivity.
The development of human capital, technological advancement, and capital investment all contribute significantly to labor productivity.
By making direct investments in or offering incentives for advancements in technology and human or physical capital, business and the government can raise the labor productivity of their workforces.
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