- ARAB NEWS
- 03 May 2024
Since 1975
Tokyo
Japanese labor productivity per hour marked the first drop in seven years in fiscal 2018, as China’s economy slowed due to the trade war with the United States, Japan Productivity Center data have shown.
The nominal value added per worker-hour in the year ended March stood at 4,853 yen, down from the previous year’s 4,862 yen, the center said Wednesday.
“Companies increased their workforce out of concern about labor shortages, but the economy didn’t grow as expected,” according to the think tank.
Nominal per capita productivity for fiscal 2018 fell to 8.24 million yen from 8.34 million yen, the first drop in two years.
Productivity per hour is on a recovery trend from October-December last year, but the recovery “may stem from working-hour reductions and other adjustments rather than economic growth,” an official said.
Jiji Press
