The article was posted here on this cite almost a year ago. Not by me. Just read it. Norway productivity was about 33% higher an hour than the US. France and Belgium productivity was slightly higher. All other European countries in the study was below US productivity an hour
Productivity, income growth slower in the euro zone than the United States
Some highlights:
Unless you can cite data to the contrary, I consider your stat opinion rather than fact.
- Europeans generally enjoy more free time and are prepared to forgo extra income in return. But productivity growth is lower in Europe than on the other side of the big pond.
- From 1990 to 2003, the U.S. economy grew by an average 2.9 percent a year, compared with annual growth of 1.9 percent for the euro zone.
- The average per capita income in the United States grew by 2.1 percent between 1993 and 2003, according to the European Central Bank, compared to 1.7 percent for the euro zone. If problem case Germany is factored out, per capita income in the euro zone increased equally fast as in the United States during that period.
- Hourly productivity growth in the euro zone reached 2.3 percent during the 1980s, compared to just 1.6 percent for the Americans. At the same time, the average European spent about 0.4 percent less time on his job during that period, while average working hours increased by 1 percent in the United States.
- The Europeans lost their productivity lead in the 1990s. Average hourly productivity growth in the euro zone slowed to about 1.4 percent, putting the Europeans roughly on a par with their U.S. peers. Europeans also spent 0.3 percent more time on the job during that decade, while the average American work week increased by 0.7 percent.
- From 1996 to 2003, employment in the euro zone grew by about 9.1 percent, compared to a 7.5 percent increase for the United States. Employment in relation to the total population increased by 0.8 percent in the euro zone and by 0.1 percent in the United States. At the same time, however, the productivity gap between the two economic areas started to open up - to the benefit of the United States.
- The U.S. economy's total productivity has been on the rise, above all because of rapid productivity gains in high-technology sectors and among service providers. Both segments are bigger in the United States than in the euro zone.
- But catching up with the United States will be a tough task. Average per capita income in Europe currently amounts to just 70 percent of the U.S. equivalent. This gap could narrow if Europeans were prepared to work longer hours. Annual working hours per employed person in the euro zone have fallen to about 1,500 hours a year over the past few decades, while Americans work more than 1,850 hours a year.
- The Europeans' lower average income is thus above all the result of shorter working hours, and not of lower labor productivity. The Europeans have been nearly as productive as the Americans over the past few years, but have enjoyed more free time and forgone higher incomes.