Employment is compiled as an integral part of the national accounts, among other methods, but in recent years we have seen very substantial revisions of the data releases. In a cyclical assessment context, this is bad news. Another consequence has been that it is difficult to obtain reliable data for labour productivity in the private sector.
This is a key element in macroeconomic analysis in general, but unfortunately it is also a rather elusive element. Productivity has played a key role in the Danish debate in recent years in view of the item’s weak development over many years. Or, at least, this is what the official figures show.