That was the biggest plunge in productivity since the fourth quarter of 2015, due to the coronavirus pandemic and restrictive measures imposed to contain it. The second measure divides GVA by the number of filled jobs used to create it. The lowest levels of labour productivity in London were in Lewisham and Southwark, with labour productivity at 2% above UK average.Figure 8 shows the highest and lowest levels of productivity in the NUTS3 subregions in the south of England (excluding London), which includes subregions in the South East, South West and East of England regions of England. In the data tables the base year used is 2016. There are 41 NUTS2 (Nomenclature of Territorial Units for Statistics) subregions of the UK and we have estimated real labour productivity data for these areas. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Productivity. When used in this way, the indices compare the “real” productivity in any region with its productivity in real terms in a base year. These data are calculated quarterly, based mostly on the Labour Force Survey (LFS), and an annual total is constructed as the average of the four quarters in the calendar year.At subregional level, only annual productivity data are being produced. All the previously mentioned LEPs, along with Stoke-on-Trent and Staffordshire LEP, had labour productivity levels at least 17% below the UK average in 2017 (or at least 10% below the UK excluding London average).As with the earlier regional data, London had the highest labour productivity.
There were three other areas of London in the top five subregions in Figure 5, while the highest labour productivity level outside of London was in Berkshire, Buckinghamshire and Oxfordshire (14% above the UK average). For government-supported training schemes and HM Forces, the regional totals are allocated to subregions based on each subregion’s share of regional employee plus self-employment hours, as calculated in the previous stage. These are external links and will open in a new window The highest level was in Wandsworth, with a productivity level 76% above the UK average.
Overall, 15 out of 49 NUTS3 subregions in the south of England had productivity levels above the UK average. Hertfordshire, on the other hand, experienced a higher increase in hours worked growth compared with 18% GVA growth, resulting in a decline in productivity during this period. "But Chancellor George Osborne has claimed the country is in the "early stages of recovery" and "turning a corner".Speaking at the Institute of Directors' annual convention he said: "The British economy is looking better. Some city regions, such as North of Tyne Combined Authority, have not been included in this release because it is not possible to build up estimates from the NUTS 3 data. When available, the constant price “real” data are most useful for assessing time series trends. TEForecast
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