2017 labour productivity jumps to seven-year high

Singapore

SINGAPORE'S overall labour productivity in 2017 surged to a seven-year peak - the highest recorded since it rebounded in 2010 following the Global Financial Crisis (GFC).

Labour productivity, as measured by real value-added (VA) per actual hour worked, grew by 4.5 per cent last year, improving significantly from the 1.8 per cent achieved in 2016.

In line with the cyclical upswing, this was primarily driven by productivity gains in the outward-oriented sectors such as manufacturing, wholesale trade, and finance & ins…