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Incorporating Labour accounts in National accounts

Understand the integration of labour accounts in national accounts, corrections in NA data, and its implications on productivity growth. Learn about labour sources, corrections at employment level, and sector-specific wage compensation in this detailed presentation from Statistics Denmark.

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Incorporating Labour accounts in National accounts

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  1. Incorporating Labour accounts in National accounts Presentation of work from National Accounts, Statistics Denmark

  2. Overview • Labour accounts • National accounts • NA corrections (batch?) • Does it matter? • Example from growth in labour productivity

  3. Labour accounts • Sources • Register of employment statistics • Number of jobs in year • Register of wage statistics • Working hours per job • Labour force survey • Correction for selfemployed, assisting spouse, and seasonality.

  4. National accounts • Before labour accounts • Hours did not exist • Productivity study used some information • After labour accounts • labour accounts, 1995-2003 • Before 1995 growth rates in previous productivity study used.

  5. Batch • These corrections are at employement level • batch 1 • More details in industry structure • batch 2 • Not stated is distributed • batch 3 • Some industries are purely public (12). Private employees relocated to other industries. • batch 4 • Sector specific wage compensation of general government is from division of public finances.

  6. Batch • Batch 5 • Commercial activity. Relocation of industry to wholesale • Batch 6 • Relocation of industry to other activity • Batch 7 • Relocate selfemployed in sectors without production value in the household sector. • Batch 8 • Move selfemployed to employee status in some partnerships within industry

  7. batch • Batch 9 • Alternative sources • Air transport, construction, agriculture, insurance • Batch 10 • Hidden economy • Adjustment of hours • Adjustment of heads • Batch 11 • Residence

  8. Industry results • Comments to table 2 • Restaurants (relocation of integrated canteens) (batch 6) • Computer and software relocate to wholesale (batch 5) • Increase in hours from hidden economy. • Water transport (residence) • Some larger components which we do not see

  9. Growth in labour productivity • Comments to table 3 • Year to year change in aggregate can be quite large • Almost same picture as in table 2. However cross section hides important differences. • Discrepancies not alarming big. • Sectoral analysis should be careful with industries with functional definitions of NA.

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