Japan Labor Productivity Falls Record 3.4 Pct in FY 2020

Economy

Tokyo, Nov. 12 (Jiji Press)--Japanese labor productivity per worker in fiscal 2020, which ended in March this year, fell 3.4 pct from the previous year in price-adjusted real terms, the steepest decline since comparable data became available in fiscal 1995, Japan Productivity Center data have shown.

The plunge reflected stagnant corporate activities mainly resulting from a coronavirus pandemic-caused slump in consumer spending, the think tank said Thursday.

Labor hours per worker went down 3.0 pct, partly due to shortened operating hours at restaurants and reduced overtime at companies.

Value-added productivity per worker in nominal terms dropped 2.9 pct to 8.05 million yen, falling for the third straight year.

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