The Importance Of Labor Productivity Growth As a component of total productivity, the growth of labor productivity is one important marker in determining the rise or fall of overall economic growth. As of the present, however, labor productivity is simply another statistic number reported in government agencies. There are a handful of goal setting tips that would certainly help you get done with the sensitive and ardent task of setting your goals, be it for the long term or even for the short-term. In the end, you would realize you are also increasing your productivity. Here are several useful guidelines. When setting goals for yourself, consider and know yourself really well first. Those who are just starting with being productive, it is best to keep track of how you are doing so you will know where are the areas that you should improve on and what are the things that you should continue doing. 5. Share the "productivity" virus. Many people are inspired to continue the good things that they are doing if others around them are willing to follow. Pro-cyclical exceptions For 2009, productivity growth was expected to slow down further in many countries. However, there appeared to be some exceptions to the pro-cyclicality of labor productivity. The experiences of the United States and Europe are two examples reflecting this economic wrinkle. Compared side by side, striking differences are evident between these two regions in terms of the productivity growth rates with which they entered the current recession. Bernard (1986) used project teams and stressed maximizing diversity with the premise that managers cannot be assumed to know what really is going on. Thor (1990) also dealt with group techniques. These include a participatory style, with each group having a facilitator who should be familiar with the technique but at the same time relatively unknown to the group. The equation is a complicated index number. The purpose is to arrive at a figure of the change in output relative to the change in all the inputs. Theoretically, the number is more comprehensive, but it is also difficult to calculate. The old assembly plant A first-hand comparison between labor productivity and multifactor productivity is illustrated by the economist Jack Triplett during a panel discussion sponsored by the National Association of Business Economists.