A nation’s economic output can be measured on an hourly basis. In simple terms, this is understood as its labor productivity. RR Holdings Ltd. considers this indicator to be important. The dynamic organization puts forth that the progress made by an economy and the changes occurring in it can be assessed by understanding this metric. For assessing it, workforce productivity or efficiency can be quickly calculated. Following this, several observations can be made. Living standards, cyclical changes, and the economic health of a country can be determined through these observations, says the global company. What Is Labor Productivity? In the economic context, the productivity of labor is a metric. Through this, the output is measured on an hourly basis for an economy. Using this metric, the real GDP for the same duration is also estimated. When this productivity is high, it indicates a proper utilization of a country’s workforce. On the other hand, low efficiency means that the pote...