Labor productivity higher in 2021

Labor productivity is the added value per working hours. In developed economies, the long-term increase in labor productivity is the main source of economic growth. In 2021, value added in the business sector increased by 6.1 percent, while the number of working hours increased by 3.1 percent. Together, this resulted in a significant increase in labor productivity (2.8 percent). The commercial sector includes all industries except government, education and real estate, including home ownership. The amount made up 80 percent of the total value added in 2021.