engleski

Has financial crisis (recession) affected labour productivity in EU countries?

Labour productivity reflects the effectiveness of its use and provides an insight into production capacity of a company. Therefore, this measure is of great importance when observed on both a company and a country level. Given that business decisions and final outcomes are largely influenced by this measure, the main research objective of this study is to explore the influence of financial crisis i.e. recession on labour productivity of companies operating in manufacturing industry in European Union. In addition to that, the comparison of the obtained data is also used to detect possible differences among observed countries. The influence of financial crisis is analysed through changes in labour productivity in years during crisis (2008-2013) and the year before crisis (2007). Two measures of labour productivity have been used. The first one presents a ratio between total revenue and number of employees while the second one focuses on total sales instead of on total revenue. Number of employees is analysed as well. Data is collected from Amadeus database where only very large, large and medium sized active companies, whose primary activity was manufacturing, have been analysed.

financial crisis ; recession ; labour productivity ; EU countries

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