Term customarily used to denote labour productivity in the sense of output per unit of labour, i.e. per man-hour or per employee. After the Second World War productivity was very low in the Austrian economy, but since then a vigorous catch-up boom has been in progress. As a result of a high utilization of capacity and high investment rates, in the 1960s, 1970s and 1980s overall productivity rose by +5%, +3% and +2.2% a year, i.e. more rapidly than the OECD average, although during the l990s the rate of increase has slowed (+1.9%). In the particular case of manufacturing industry, however, the growth rate, already above average by international standards, has actually accelerated during the l990s (+5.2% as against +4.8% in the 1980s). Averaged over goods production as a whole (manufacturing industry plus the goods-producing small-scale craft sector), after lagging about one third behind the former West Germany in the early 1970s Austria has now achieved the same productivity level as the western Länder of present-day Germany.

Please note: the European industrial relations glossaries were compiled between 1991 and 2003 and are not updated. For current material see the European industrial relations dictionary.