Productivity is a buzzword for growth pace in countries like Brazil. However, a recent study presented by FIEMG, Federation of Industries of Minas Gerais state, compared the national labor force to countries like the United States and South Korea in the 70s, the Brazilian worker produced 21% of the value generated by a worker in north America. In 2010, the figure was 18.6%. Compared to South Korea in the 70s Brazilians produced 117% of the value generated by them. In 2010, however, only 31%.
This situation worsens if we start to compare the behavior of wages, compared to the productivity numbers. A study by the IBGE in the last decade, wages have advanced in the industry, as adjusted for inflation, 57.2%. Meanwhile, worker productivity grew by only 17.8%. There are several factors that led the country to these conflicting indicators. The stabilization of the currency did flourish many business sectors, but education of the workforce and investment in technologies that improve productivity remained in the background.
The cooling of the Brazilian GDP growth gives a clear signal that we need a revolution in the preparation of the workforce, in addition to massive investment in technologies that improve productivity in companies. Read the article published in the newspaper O Estado de Minas, which shows in more detail the studies cited in this post. (wages rise above productivity)
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