Russian productivity lowest in Europe, according to OECD

Russian productivity: The  productivity of the Russian workforce is the lowest in Europe, according to a report released  by the OECD yesterday. Labor productivity – as measured by dividing the  GDP by the total number of hours worked by the country’s workforce — stood at 25.9 in 2014,  worse than even crisis-hit Greece where the productivity rate stood at 36.2.and just over  half the average European rate of 50. Luxembourg topped the ranking with a measurement of 95.9. President Putin ordered the government to increase productivity by 50% over a four-year period. The subsequent initiative includes investment in the modernisation of production procedures,  professional development, eliminating inefficient jobs and increasing mobility in the labor market.