Labor productivity sluggish rise prompts IDB caution
Santo Domingo.- Labor productivity in the country climbed an average 4.32%, an increase influenced by the educational level and specialization of the employed population, according to the First National Productivity Index
National Competitiveness Council director, Rafael Paz, stressed that one of the measures that will contribute to improving productivity is the development of the national innovation strategy, which will be developed in the coming days.
“The total productivity of the factors has had an average growth of 0.85%. We have more resources, more workers, but in terms of efficiency we still have the same results,” Paz said at the presentation of the study in the National Palace.
By sectors, the results show that industries and services as having the highest labor productivity, with financial intermediation among the highest productivity and agribusiness with the lowest yield.
Inter-American Development Bank (IDB) representative Miguel Coronado, stressed the study’s importance and cautioned that low productivity affects the efficiency of investments. “Historically, productivity has not been the source of economic growth in the region.”