Productivity is dipping, remaining below pre-pandemic levels.
Data from Xero shows that in the three years prior to the pandemic productivity sat at around the $100-$110/hour mark, but it fell again in December of last year to $99.30/hour.
The figure is based on data from 240,000 small businesses and is calculated by comparing a business’ sales with the total hours worked.
Xero Country Manager Bridget Snelling told Mike Hosking that New Zealand currently sits in 30th out of the 38 countries in the OECD’s most recent productivity rankings.
She said that while we want New Zealand to be competing on the world stage in terms of being an advanced digital economy, we’re just not there.
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