Caribbean small states - GDP per person employed (constant 2011 PPP $)

The latest value for GDP per person employed (constant 2011 PPP $) in Caribbean small states was 37,851 as of 2020. Over the past 29 years, the value for this indicator has fluctuated between 41,386 in 2012 and 31,261 in 1991.

Definition: GDP per person employed is gross domestic product (GDP) divided by total employment in the economy. Purchasing power parity (PPP) GDP is GDP converted to 2011 constant international dollars using PPP rates. An international dollar has the same purchasing power over GDP that a U.S. dollar has in the United States.

Source: International Labour Organization, ILOSTAT database. Data retrieved in September 2019.

See also:

Year Value
1991 31,261
1992 31,891
1993 32,726
1994 32,884
1995 33,213
1996 33,822
1997 34,549
1998 34,283
1999 35,491
2000 36,144
2001 36,451
2002 37,303
2003 38,639
2004 38,647
2005 39,029
2006 40,526
2007 41,084
2008 41,128
2009 40,289
2010 41,003
2011 41,229
2012 41,386
2013 41,280
2014 40,671
2015 40,505
2016 39,192
2017 38,454
2018 38,686
2019 38,217
2020 37,851

Development Relevance: Labor productivity is used to assess a country's economic ability to create and sustain decent employment opportunities with fair and equitable remuneration. Productivity increases obtained through investment, trade, technological progress, or changes in work organization can increase social protection and reduce poverty, which in turn reduce vulnerable employment and working poverty. Productivity increases do not guarantee these improvements, but without them - and the economic growth they bring - improvements are highly unlikely. GDP per person employed is a key measure to monitor whether a country is on track to achieve the Sustainable Development Goal of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. [SDG Indicator 8.2.1]

Limitations and Exceptions: For comparability of individual sectors labor productivity is estimated according to national accounts conventions. However, there are still significant limitations on the availability of reliable data. Information on consistent series of output in both national currencies and purchasing power parity dollars is not easily available, especially in developing countries, because the definition, coverage, and methodology are not always consistent across countries. For example, countries employ different methodologies for estimating the missing values for the nonmarket service sectors and use different definitions of the informal sector.

Statistical Concept and Methodology: GDP per person employed represents labor productivity — output per unit of labor input. To compare labor productivity levels across countries, GDP is converted to international dollars using purchasing power parity rates which take account of differences in relative prices between countries.

Aggregation method: Weighted average

Base Period: 2011

Periodicity: Annual

Classification

Topic: Labor & Social Protection Indicators

Sub-Topic: Economic activity