Podcast
Questions and Answers
What is the main challenge facing all Jordanians?
What is the main challenge facing all Jordanians?
- Strong and consistent real economic growth
- High unemployment rates
- Low overall labor force participation rate
- All of the above (correct)
What is the average economic growth rate expected to reach in 2019, according to IMF forecasts?
What is the average economic growth rate expected to reach in 2019, according to IMF forecasts?
- 2.3%
- 2.7%
- 3.1%
- 2.5% (correct)
The overall unemployment rate in Jordan is decreasing.
The overall unemployment rate in Jordan is decreasing.
False (B)
What is the most commonly used measure of labor productivity?
What is the most commonly used measure of labor productivity?
Which of the following is NOT a benefit of higher labor productivity?
Which of the following is NOT a benefit of higher labor productivity?
What is the name of the organization that published the 2018 labor productivity for 123 countries?
What is the name of the organization that published the 2018 labor productivity for 123 countries?
China topped the list in terms of labor productivity growth rate during the period 2010-2018.
China topped the list in terms of labor productivity growth rate during the period 2010-2018.
The Middle East and North Africa (MENA) region had the highest labor productivity growth rate during the period 2010-2018.
The Middle East and North Africa (MENA) region had the highest labor productivity growth rate during the period 2010-2018.
The top 20 countries in the world in terms of labor productivity growth rates include Arab economies.
The top 20 countries in the world in terms of labor productivity growth rates include Arab economies.
Jordan ranked 116th out of 123 countries in terms of labor productivity growth rate during the period 2010-2018.
Jordan ranked 116th out of 123 countries in terms of labor productivity growth rate during the period 2010-2018.
According to the Jordan Strategy Forum, which of the following contribute to improving labor productivity in Jordan? (Select all that apply)
According to the Jordan Strategy Forum, which of the following contribute to improving labor productivity in Jordan? (Select all that apply)
Flashcards
Labor Productivity
Labor Productivity
The efficiency with which a country uses labor to produce more with the same level of factor inputs.
Real Economic Growth
Real Economic Growth
The rate at which the value of goods and services produced in a country increases over time.
Labor Force Participation Rate
Labor Force Participation Rate
The percentage of the population that is either employed or actively seeking employment.
Unemployment Rate
Unemployment Rate
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Unemployment Rate (2nd Quarter 2018)
Unemployment Rate (2nd Quarter 2018)
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Predicted Real Economic Growth (2018-2020)
Predicted Real Economic Growth (2018-2020)
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Economic Recession
Economic Recession
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Company Productivity
Company Productivity
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Productivity
Productivity
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Labor Productivity
Labor Productivity
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Benefits of Labor Productivity
Benefits of Labor Productivity
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Process Innovation
Process Innovation
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Product Innovation
Product Innovation
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Foreign Direct Investment (FDI)
Foreign Direct Investment (FDI)
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Technology and Innovation Effects
Technology and Innovation Effects
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FDI Effects
FDI Effects
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Competition Effects
Competition Effects
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Education Spending Effects
Education Spending Effects
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Infrastructure Effects
Infrastructure Effects
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Labor Productivity and Wages
Labor Productivity and Wages
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Labor Productivity and Economic Growth
Labor Productivity and Economic Growth
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Labor Productivity and Company Profits
Labor Productivity and Company Profits
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Labor Productivity and Competitiveness
Labor Productivity and Competitiveness
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Employee Engagement Effects
Employee Engagement Effects
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Management's Role in Employee Engagement
Management's Role in Employee Engagement
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Training and Development in Employee Engagement
Training and Development in Employee Engagement
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Communication in Employee Engagement
Communication in Employee Engagement
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Feedback in Employee Engagement
Feedback in Employee Engagement
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Ownership in Employee Engagement
Ownership in Employee Engagement
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Study Notes
Importance of Labor Productivity in Jordan
- The Jordan Strategy Forum (JSF) is a not-for-profit organization representing Jordanian private sector companies.
- JSF promotes Jordan's economic growth through dialogue on economic and social issues.
- JSF aims for a profitable and employing private sector, contributing to Jordan's tax revenue and comprehensive economic growth
- They offer a platform for evidence-based debate between the private and public sectors regarding Jordan's economy.
- For details and updates, visit their website (jsf.org), Facebook page, or Twitter.
Main Economic Challenges
- Real economic growth has been weak, averaging 2.3% in 2018, 2.5% in 2019, and 2.7% in 2020 (IMF forecasts).
- Unemployment rates are high and rising, with an overall rate of 18.7% in the second quarter of 2018.
- Unemployment is further stratified by age, gender, and education level, posing additional challenges.
Concept of Labor Productivity
- Labor productivity measures the efficiency with which labor produces goods and services, calculated as output per worker.
- Higher labor productivity leads to lower unit costs, improved competitiveness, higher profits, higher wages, and, ultimately, higher economic growth.
Labor Productivity in Jordan: Needs to be Done
- Jordan's labor productivity is relatively low compared to other regions, particularly the Middle East and North Africa (MENA) region.
- The study recommends various initiatives to boost Jordan's labor productivity, including employee engagement (training, empowerment), improved infrastructure, adoption of new technologies, foreign direct investment, higher education spending, and competition.
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