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October 25, 2010



Is there something inherently wrong with part-time jobs these days, or is this just an old-fashioned attitude? Plenty of people combine working with studying (which should raise productivity in the long run), childcare, caring for relatives, running a household or simply pursuing their own objectives in life, whatever they may be. Yes, full-time work does lead to a person becoming very proficient at doing that job, and that's good for productivity, but I'm not sure that part-time work is *that* much worse.


is your definition of productivity gdp/hours worked? if not, what difference,if any, would that make?


Good question Tony.
My definition is GDP per worker. I chose this because the OBR do not forecast hours worked.
However, looking at productivity measured by GDP per hour, the historic pattern in the chart remains - most notably, that productivity was slowing before the recession. For example, it grew by 1.9% pa in the five years to 2007Q4, compared to 2.4%pa in the previous five (to 2002Q4).


Shame we can't superimpose the OBR's previous predictions to reality.


heh. nicely skewered

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