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 Russians named most ineffective workers in Europe

According to experts of the Organization for Economic Cooperation and Development (OECD), one of the reasons for decline of the Russian economy is a low labor productivity.

As reported by Censor.NET citing LIGABusinessInform, GDP per hour of work in Russia is twice lower than that in the EU and the OECD countries, making $25.9.

At the same time, the Russians are second by the number of hours spent at work, right after the Greeks, the survey suggests. A Russian employee spends 1,982 hours a year at work, while in Greece the figure is a record for Europe - 2,034 hours per year.

Read more: Europe wins from countersanctions by Russia, European Commission says

The average number of hours spent at work by Europeans makes 1,691 hours, productivity of labor making $50 per hour. Americans work more - 1,790 hours, while the share of GDP per hour in the US is $67.4.

The OECD experts note that one of the reasons for Russia's economy recession is poor labor efficiency. According to the International Monetary Fund, the key problem of Russia is lack of structural reforms.

Earlier, the IMF predicted growth of the Russian economy by 1.5% in 2016. In 2015, according to IMF estimates, Russia's GDP will shrink by 3.4%.

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Источник: https://en.censor.net.ua/n347223