Enter the total value of the goods produced and the total labor hours put into producing those goods to determine the labor productivity.
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Labor Productivity Formula
The following equation is used to calculate a labor productivity.
LP = GDP / LH
- Where LP is the labor productivity
- GDP is the value of the goods produced. When analyzing a country’s labor productivity this is the gross domestic product
- LH is the total labor hours that led to the product of the goods.
Labor Productivity Definition
A labor productivity is a measure of the our efficiency or amount of value a specific segment can produce with a certain number of labor hours.