Japan ranks in last place in G7 in terms of labor productivity

In terms of labor productivity, Japan is now in last place in the Group of Seven, which also includes the United Kingdom, Germany, Italy, Canada, the United States and France, Azernews reports, citing International Media Outlets.

According to this indicator, it has fallen to 30th place among the 38 members of the Organization for Economic Cooperation and Development (OECD), this is the lowest level in the country's history, according to a report distributed by the Japanese Productivity Center.

An average worker in Japan now produces goods and services worth $52.2 per hour. At the same time, Ireland, which is in first place in the OECD in this indicator, reaches $154.1. Japan's labor productivity does not even reach the average level in the organization, which is $65.2 per hour.

The United States leads the Group of Seven in this indicator ($89.8). They are in ninth place in the OECD.
According to experts from the productivity center, the decline in Japan's indicator is due to insufficient efforts to digitalize the economy and the slow pace of wage increases.