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The U.S. ranks 12th in growth of hours worked
According to the OECD, between 2000 and 2005, there was an average annual decrease of 0.4 hours worked per full-time equivalent employee. This was in line with the OECD average, and was enough to make the United States tied for twelfth with Finland, France, and the United Kingdom. Austria and Denmark were tied for first, with an average annual increase of 0.3 hours worked.
Categories: economy, Health and Welfare, Political and Social Life, Ranking of 11 to 20
Austria, Denmark, Finland, France, labor, OECD, United Kingdom
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So economically speaking, what significance this survey could bring to a country and its employment?
For any country with a decline in hours worked, there was a corresponding increase in leisure time. Conversely, for those countries with an increase in hours worked, there was a decrease in leisure time. Austria and Denmark saw the greatest decrease in leisure time among all OECD nations during those years.
Thanks a lot for that.
Please correct me if I am wrong.
This issue reflects to a country’s economic status specially to those affected by recession. And those increased in working hours does it means that people needs to extend their working hours to come up something? And those increase in leisure time, does it means that a country’s economy somewhat like getting better?
It might mean that. It might also mean that a decrease in working hours (and, therefore, an increase in leisure time) means that less work is available.
Thanks Mark,
You have a better point and I got you. Yes less in the availability ( or scarcity) of work means lesser demand for manpower or other services. But if we shall say increase in leissure time would not mean the economy is quite a bit of going down. Because as what I have observed, there is a close tandeem to both of them. As a countrys demands for more hours work, the economy might rising and of course leisure businesses are gradually increasing also.