Fewer workers changing jobs and a decline in business start-ups is contributing to higher consumer prices and a slowdown in living standards, says Andrew Leigh.
“When workers switch from low-productivity to high-productivity firms, they earn higher wages, and the economy benefits.The share of workers who started a new job in the past quarter declined from 8.7 per cent in the period from February 2002 to May 2008, to 7.3 per cent in the period from August 2008 to November 2019.
Dr Leigh will deliver the findings about the “deep-seated” economic problems in a speech, titled “A more dynamic economy”, at the Australian National University’s Gruen Lecture on Thursday night.was a renowned economist at ANU in the 1970s and 1980s, where he made a significant contribution to Australian economic and public policy debate.
“In competitive industries, companies are forced to ask themselves what they need to do to win market share from their rivals.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Large firms are increasingly dominating Australia's economy, says Labor MP Andrew LeighAustralia's economy is becoming more concentrated, and dominant firms are increasing prices.
Read more »
Large firms are consolidating power like Scott Morrison consolidates jobs – and it’s hurting productivity | Greg JerichoIn a speech today, the assistant minister for competition, Andrew Leigh, will point the finger at big business over the inflation crisis
Read more »
‘Totally unscientific’: Media is ‘scaring people’ with climate liesSky News host Andrew Bolt says the ABC is “once again” misleading people about the drought in Europe. “It is saying Europe is facing one of its toughest years of natural disasters like droughts because of increasing climate change,” he said. “This is totally unscientific. It is pure fear mongering. Mr Bolt said what you are seeing in Europe is “not a trend, it's not climate, it is weather.” “When will they talk science and stop scaring people.”
Read more »
‘Narcissistic, woke’: Meghan Markle’s podcast slammed with ‘one star’ ratingsMeghan Markle’s new podcast proves she has a “monstrous sense of self-entitlement” and is “craving victimhood,” says Sky News host Andrew Bolt. Meghan Markle has released her debut Spotify series, Archetypes, which features her “dear, dear friend” Serena Williams as the first guest. Mr Bolt said that “tragically for Markle” the new podcast “really does show the real her”. “To various critics who've actually listened to it, (the podcast) rates just one star,” he said. “And around the world, millions of the narcissistic woke who are her fans cry with her.”
Read more »