Labor productivity in Slovakia rose by 7.1% in 2019-24

Labor productivity in Slovakia rose by 7.1% in 2019-24, much faster than the EU average of 0.7%, UniCredit Bank calculations show. Productivity even fell by 1.3% in Germany and 3.1% in France. Slovakia's good result is partly due to tens of thousands of workers taking advantage of early retirement. Thanks to this, Slovakia was also one of the three EU countries where employment has not yet reached the 2019 level. Slovak GDP grew by 6.5% compared to 2019; in Czechia and Austria by only 1.5-2%. Rising productivity creates room for wage growth.

(dennikN.sk)