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Alvin Tan on sectoral productivity and measures of productivity amid COVID-19

Productivity has been uneven across different economic sectors during COVID-19, reflecting the differentiated impact of the pandemic. Productivity growth is expected to remain positive for most outward-oriented sectors, while sectors that continue to be disrupted by weak travel demand and domestic restrictions are not expected to recover fully this year, said Minister of State for Trade and Industry Alvin Tan in Parliament on Wednesday (Nov 3). He also said that since 2015, MTI has compiled statistics on Real Value-Added Per Actual Hour Worked - internationally recognised as the most appropriate measure of labour productivity, and more accurate in the context of a hybrid work model. Mr Tan was responding to Parliamentary questions.

Alvin Tan on sectoral productivity and measures of productivity amid COVID-19

03 Nov 2021 02:39pm

Productivity has been uneven across different economic sectors during COVID-19, reflecting the differentiated impact of the pandemic. Productivity growth is expected to remain positive for most outward-oriented sectors, while sectors that continue to be disrupted by weak travel demand and domestic restrictions are not expected to recover fully this year, said Minister of State for Trade and Industry Alvin Tan in Parliament on Wednesday (Nov 3). He also said that since 2015, MTI has compiled statistics on Real Value-Added Per Actual Hour Worked - internationally recognised as the most appropriate measure of labour productivity, and more accurate in the context of a hybrid work model. Mr Tan was responding to Parliamentary questions.

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