News
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Americans Are World's Most Productive Workers, U.N. Report Finds
American workers stay longer in the office, at the factory or on the farm than their counterparts in Europe and most other rich nations, and they produce more per person over the year.They also get more done per hour than everyone but the Norwegians, according to a U.N. report released Monday, which said the United States "leads the world in labor productivity."The average U.S. worker produces $63,885 of wealth per year, more than their counterparts in all other countries, the International Labor Organization said in its report. Ireland comes in second at $55,986, followed by Luxembourg at $55,641, Belgium at $55,235 and France at $54,609.Only part of the U.S. productivity growth, which has outpaced that of many other developed economies, can be explained by the longer hours Americans are putting in.The U.S., according to the report, also beats all 27 nations in the European Union, Japan and Switzerland in the amount of wealth created per hour of work—a second key measure of productivity.Norway, which is not an EU member, generates the most output per working hour, $37.99.Laborers from regions such as southeast Asia, Latin America and the Middle East have the potential to create more wealth but are being held back by a lack of investment in training, equipment and technology.China and other East Asian countries are catching up quickest with Western countries. But they still have a long way to go: Workers in East Asia are still only about one-fifth as productive as laborers in industrialized countries.The least productive country was Africa. It was only about 1/12 of what the other countries were.
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