Shift to 'more accurate' productivity measure, but challenges remain
Singapore
SINGAPORE'S government will place a greater emphasis on the "more accurate" metric of value-add (VA) per actual hour worked to measure labour productivity. Using this metric, the economy actually better satisfies productivity growth expectations as set forth by the Economic Strategies Committee (ESC), said a senior official on Wednesday.
Currently, the government uses VA per worker as an official metric to measure labour productivity, which saw zero growth in the three months ended September when compared to the same period a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch