New Zealand labour productivity records largest growth since 2010


New Zealand’s labor productivity rose 2.2 percent in the year ended March 2022, the largest growth in the measure since 2010, according to figures released by the statistics department Stats NZ on Wednesday. The 2.2 percent rise in labor productivity follows flat labor productivity in the year ended March 2021. These movements should be considered in the context of the different COVID-19 prevention measures that affected both years ended March 2021 and March 2022 respectively. “The rise in labor productivity reflects output increasing at a greater rate than labor inputs over the March 2022 year,” national accounts industry and production senior manager Ruvani Ratnayake said.— Xinhua