Thanks to more focus and flexibility, productivity per worker increased by up to 16% during the Covid-19 lockdown in Switzerland, a study has calculated. The study by the Swiss Trade Association (SGV), reported in the NZZ am Sonntag newspaper, found that while hours worked dropped by 10% in the first quarter of 2020, GDP sank by just 2.6%. This translates to a productivity jump of up to 16%. And if such a figure is a crude picture of the overall situation, it is nevertheless striking, said SGV chief economist Henrique Schneider; the normal productivity gain for such a period is less than 1%. According to Schneider, interviewed by the NZZ, the increase is down to a few factors. Employees were able to focus on the most essential tasks, he said, and with many avoiding daily commutes, they were able to streamline their working habits at home. This is good news for the economy, said Schneider, which is “more flexible than we thought, and capable – for a short period, at least – of ...
