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

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Presentation on theme: "Incorporating Labour accounts in National accounts Presentation of work from National Accounts, Statistics Denmark."— Presentation transcript:

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, –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

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9 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

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11 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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