The labor productivity per worker in fiscal 2024, which ended in March this year, rose 0.2% from the previous year in inflation-adjusted real terms — up for four consecutive years, according to data from the Japan Productivity Center think tank.
However, labor productivity “needs to increase more than 1%” to ensure that real wages keep rising by 1% as envisioned in a government target, an analyst at the think tank said.
Labor productivity — the amount of added value created by labor — improved in three sectors: transport and postal services, finance and insurance, and information and communications.
