Accuracy Increase of the Regional Labour Productivity Forecasting

Abstract

The study applies the new techniques in forecasting regional labour productivity based on a combination of measuring instruments of individual factors. The weight coefficients selection method used provides accuracy increase of regional labour productivity forecasting. Methodological basis of research is a combination of number of statistical methods to forecast different economic indicators, such as the trend analysis, a method of exponential smoothing, and a method of multidimensional average. Research results suggest that the economic indicators of gross regional product and number of economically active population is suitable in characterizing the economy of an investment attractive region, such as Kaluga region. The study provides the practice oriented approach towards up-to-date identification of labour productivity change at the regional context.

DOI: 10.5901/mjss.2015.v6n6s7p63