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.
Russian productivity lowest in Europe, according to OECD
Source: The Moscow Times