Reuters (May 14)
“Desperate to overcome Japan’s growing shortage of labor, mid-sized companies are planning to buy robots and other equipment to automate a wide range of tasks, including manufacturing, earthmoving and hotel room service…. If the investment ambitions are fulfilled it would show there is a silver lining as Japan tries to cope with a shrinking and rapidly aging population. It could help equipment-makers, lift the country’s low productivity and boost economic growth.”
Tags: Aging, Automate, Desperate, Economic growth, Japan, Labor, Manufacturing, Productivity, Robots, Shortage, Silver lining
Chicago Tribune (December 23)
“From the standpoint of personal health, getting at least seven hours is just common sense. But a case can be made that sleep equals productivity equals a robust economy. So, for yourself and for the sake of our country, do your part for the gross domestic product.” A recent Rand Corporation study found that lost sleep negatively impacts the U.S. economy by $411 billion each year.
Tags: Common sense, Economy, GDP, Health, Productivity, Rand Corporation, Sleep, U.S.
The Week (October 31)
Designed to foster communication and collaboration, open office layouts are having a negative impact on employee productivity and satisfaction. “Overheard conversations can result in a 5 percent to 10 percent decline in the performance of cognitive tasks…like reading, writing, and other forms of creative work. Noise can impair workers’ ability to recall information and do basic arithmetic. It also can decrease productivity by as much as 86 minutes per day.”
Tags: Collaboration, Communication, Employees, Impact, Noise, Performance, Productivity, Satisfaction
Bloomberg (March 17)
“Even with the dollar’s rally since 2014, U.S. manufacturing is benefiting from the world’s strongest rate of productivity, a flexible labor market, cheap energy and from having a big domestic market.” The lingering belief that it’s radically cheaper to move production to China is a misconception. “Labor costs adjusted for productivity in China are only 4 percent cheaper than in the U.S.”
Tags: China, Dollar, Energy, Flexible, Labor market, Manufacturing, Productivity, Rally, U.S.
Institutional Investor (September 3)
“Is 3 percent economic growth a thing of the past?” In the U.S., “gross domestic product (GDP) growth has averaged 3 percent a year since 1960, but only 2.1 percent since the global financial crisis ended in 2009.” Economists increasingly think that “sluggish labor force expansion and productivity may stymie the kind of U.S. economic growth seen in the second half of the 20th century.” Many now “expect growth of about 2 percent to prevail for the next decade.”
Tags: Economists, Expansion, GDP, Global financial crisis, Growth, Labor force, Productivity, Stymie, U.S.
Wall Street Journal (June 3)
“Prime Minister Shinzo Abe’s push to restart productivity growth and unlock value in Japanese companies is toppling the shibboleths of Japan Inc.” His corporate governance reforms seem to mark “a turning point. Japan’s corporate chieftains must realize that as Japan’s population ages, it will draw down savings. That means companies need to attract foreign capital and go abroad to seek new markets. Both require global best practices of corporate governance.”
Tags: Abe, Foreign capital, Global best practices, Governance, Growth, Japan, Markets, Population, Productivity
New York Times (November 23)
“We don’t need to change course, or kill jobs, or wage war on anybody or anything” to reduce greenhouse gas emissions. All we need to do is continue increasing energy efficiency, which has been key to economic progress. “Without energy productivity improvements, America’s energy needs would have tripled since 1970…. Actual growth was only one-fifth of that. Energy efficiency has emerged as the largest and cheapest alternative to burning fossil fuels to generate electricity.”
Tags: Economic progress, Efficiency, Electricity, Emissions, Energy, Fossil fuels, GHG, Growth, Jobs, Productivity, U.S., War
The Economist (July 19)
The weak recovery continues in the U.S. with many economists estimating potential growth of 1.75%-2.0%. “Evidence is mounting that America’s potential growth rate has plummeted…. Solving the short-term problem means boosting demand, so the Federal Reserve should keep interest rates low. But to pep up long-term growth, America also needs to address the supply side. In particular, it needs more workers and faster increases in productivity.”
Tags: Federal Reserve, Growth, Interest rates, Productivity, Recovery, U.S., Weak, Workers
The Economist (January 25, 2014)
“In some ways, China’s market is still the world’s most enticing. Although it accounts for only around 8% of private consumption in the world, it contributed more than any other country to the growth of consumption in 2011-13.” But China is proving vexing to foreign firms as they find themselves subject to government whims, strong local competition, a tighter labor market and slowing growth. Some are scaling down. Others stumbling or even pulling out. “China is still a rich prize. Firms that can boost productivity, improve governance and respond to local tastes can still prosper. But the golden years are over.”
Tags: China, Competition, Consumption, Enticing, Foreign firms, Golden years, Governance, Government, Growth, Labor market, Productivity, Slowing
Euromoney (January Issue)
“US claims that Germany’s external surpluses are hindering global recovery are inaccurate and unjustified…. The complex reality is that Germany’s relative export success is not built on beggar-thy-neighbour policies or on the imposition of unnecessary austerity on its neighbours. It is founded domestically on higher productivity, better investment and substantial labour market reforms.”
Tags: Austerity, Beggar-thy-neighbour, Exports, Germany, Investment, Labour, Market reforms, Productivity, Recovery, Surpluses, US
