Podcast
Questions and Answers
What does JSF stand for?
What does JSF stand for?
Jordan Strategy Forum
What is the name of the international organization that provides estimates for Jordan's labor force participation rates?
What is the name of the international organization that provides estimates for Jordan's labor force participation rates?
International Labor Organization (ILO)
Jordan has a high overall labor force participation rate.
Jordan has a high overall labor force participation rate.
False (B)
Which of the following is not a factor that contributes to a nation's labor productivity?
Which of the following is not a factor that contributes to a nation's labor productivity?
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In which region does Jordan fall in terms of labor productivity growth as per the document?
In which region does Jordan fall in terms of labor productivity growth as per the document?
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What is the correct ranking of Jordan's labor productivity growth among 123 countries during the period 2010-2018?
What is the correct ranking of Jordan's labor productivity growth among 123 countries during the period 2010-2018?
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The document states that there is a simple formula to improve labor productivity.
The document states that there is a simple formula to improve labor productivity.
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According to the document, which of the following is a key factor in improving labor productivity?
According to the document, which of the following is a key factor in improving labor productivity?
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The document states that Jordan's education spending is higher than that of other OECD countries.
The document states that Jordan's education spending is higher than that of other OECD countries.
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What is the name of the organization that published the 2018 labor productivity data for 123 countries?
What is the name of the organization that published the 2018 labor productivity data for 123 countries?
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Flashcards
Labor Productivity
Labor Productivity
The rate at which a country utilizes its labor force to produce goods and services, calculated by dividing output by total employment.
Real Economic Growth
Real Economic Growth
The amount of goods and services produced in a country over a specific period, typically measured by percentage growth.
Labor Force Participation Rate
Labor Force Participation Rate
The percentage of the working-age population that is actively employed or seeking employment. It reflects the rate of participation in the workforce.
Unemployment Rate
Unemployment Rate
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Competitiveness
Competitiveness
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Employee Skills Development
Employee Skills Development
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Innovation
Innovation
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Foreign Direct Investment (FDI)
Foreign Direct Investment (FDI)
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Public Spending on Education
Public Spending on Education
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Study Notes
Importance of Labor Productivity in Jordan
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The Jordan Strategy Forum (JSF) is a non-profit representing Jordanian private sector companies, active in corporate social responsibility (CSR) and promoting economic growth.
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JSF aims to promote a strong, profitable Jordanian private sector.
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JSF facilitates dialogue on economic and social issues affecting Jordanian citizens.
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The forum provides opportunities and platforms for the private sector to engage in evidence-based debates with the public sector and government officials, and improve awareness while strengthening the Jordanian economy.
Main Economic Challenges
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Real economic growth has been weak, averaging 2.3% in 2018, 2.5% in 2019, and 2.7% in 2020 according to IMF forecasts.
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Unemployment rates are high and rising, reaching 18.7% in Q2 2018.
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Unemployment rates vary based on age, gender, and education levels.
Concept of Labor Productivity
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Labor productivity measures the efficiency of labor in producing goods and services; it's calculated by dividing output by total employment.
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Higher labor productivity leads to lower unit costs, potentially lower prices for consumers, improved competitiveness in trade, higher profits, higher wages, and faster economic growth.
Labor Productivity in Jordan
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Jordan's labor productivity growth rate between 2010 and 2018 was among the lowest in the Middle East and North Africa (MENA) region.
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Jordan ranked 116th out of 123 countries in terms of labor productivity during this period, showing a decline of approximately -0.783% on average.
Recommendations for Improvement
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Employee Engagement: Businesses must focus on developing employee skills, encouraging ownership in time management and resources, offering clear parameters for success, and implementing remote work where applicable.
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Competition: Evaluating the competitiveness of all relevant economic sectors, adopting suitable regulations.
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Infrastructure: Increasing investment in infrastructure is key to improving efficiency.
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Technology and Innovation: Encouraging adoption of new technologies through tax breaks or incentives.
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Foreign Direct Investment (FDI): Attracting FDI can enhance productivity.
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Openness and Global Competition: Global competition fosters efficiency.
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Education Spending and Efficiency: Jordan's education spending needs to increase to improve competitiveness.
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Description
This quiz explores the significance of labor productivity in Jordan's economy, addressing challenges such as unemployment and economic growth. Dive into the role of the Jordan Strategy Forum in promoting corporate social responsibility and economic dialogue. Test your knowledge on how productivity impacts the business landscape in Jordan.
