What Is Labor Efficiency?
Efficiency of labour The output level of unit labor input. It reflects the effective results obtained from a certain amount of labor input.
Labor efficiency
- Chinese name
- Labor efficiency
- Meaning
- Effective results from a certain amount of labor input
- Purpose
- Output level of unit labor input
- Scope of application
- All socio-economic sectors
- Efficiency of labour The output level of unit labor input. It reflects the effective results obtained from a certain amount of labor input.
- definition
- The results of this output can be expressed in the form of physical objects or in the form of values. The concept of labour efficiency can be applied to all socio-economic sectors. The term "labor productivity" is commonly used in the field of material production.
- Number of outputs
- Formula for calculating labor efficiency: Labor efficiency = number of output results / number of live labor inputs
- Number of live labor inputs
- The number of live labor inputs in the formula can be based on the number of workers (producers or all employees) and labor time. The number of output results in the formula can be based on different calculation purposes using a value indicator (total production value or net output value indicator) or a quantity indicator (order quantity or product quantity).
- From the scope of measurement, labor efficiency can be divided into labor efficiency in the whole society, regional labor efficiency, departmental labor efficiency, industry labor efficiency, enterprise labor efficiency and personal labor efficiency. Labor efficiency is the main aspect of economic efficiency. Continuously improving labor efficiency is one of the main economic goals of an economic unit.
- The category of labor efficiency (labor productivity) exists in both capitalist and socialist societies, and people can use it to compare the economic conditions of countries with different social systems.