Slovak Republic - GDP per person employed (constant 2011 PPP $)

The latest value for GDP per person employed (constant 2011 PPP $) in Slovak Republic was 65,570 as of 2020. Over the past 28 years, the value for this indicator has fluctuated between 67,184 in 2019 and 27,409 in 1992.

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
1992 27,409
1993 28,610
1994 31,698
1995 33,025
1996 33,992
1997 36,172
1998 37,651
1999 38,923
2000 40,342
2001 41,050
2002 42,772
2003 43,733
2004 46,570
2005 48,459
2006 50,882
2007 54,998
2008 56,328
2009 54,946
2010 59,700
2011 60,833
2012 61,295
2013 61,722
2014 62,522
2015 64,196
2016 63,607
2017 64,470
2018 65,947
2019 67,184
2020 65,570

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