Growth of labor productivity as the most important factor for development of the country’s economy (შრომის მწარმოებლურობის ზრდა, როგორც ქვეყნის ეკონომიკის განვითარების უმნიშვნელოვანესი ფაქტორი)

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Ivane Javakhishvili Tbilisi State University Press
Labor productivity is the most important economic indicator that assesses the efficiency of the main producer of society - human labor force. Today, the main factor of the country’s economic growth and raising the living standard of the population is growth of labor productivity. It is a decisive factor for the country’s economic growth. On contemporary stage of the economical development it has especially great importance in the real sector of economics, as in the conditions of market relationship, there is a “transfer” of labor to the service sector and this reduces the number of people employed in real sector. In the article the author made attempt to study by what method the indicator of the level of labor productivity in most countries of the world is calculated and, using this method, tried to calculate the indicator of the level of labor productivity in Georgia today. In almost all the countries of the world, the indicator of the level of labor productivity is compulsorily calculated for the whole country. So, it is calculated by dividing the total national product to the number of employed population. For this purpose, in case with a high level of unemployment in the country, in order not to create a false opinion about the real state of the country’s economy, and, accordingly, about the welfare of the population, first should be calculated the volume of the national product per capita during the year, and then divide it to the number of annual working hours of one worker and get an indicator of hourly labor productivity. The article also considers it purposeful that the National Statistics Service should annually calculate the volume of the national product not only per capita, but for one employed person, and on this basis, not only hourly productivity should be calculated, but also in relation to one employed person.
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Labor productivity, level indicator of Labor productivity, hourly labor productivity, analysis of labor productivity levels
Economics and Business, №1, 2021, pp. 71-86