Productivity Commission research has found Australians are paying a huge price for the drop-off in productivity that has swept the world over the past 25 years.
over the past two years and an associated argument about whether workers are sharing in workplace productivity.a 40 to 50 per cent increase in the unemployment rate, plus increased immigration, would help boost the construction sector’s productivity, which he claimed had fallen because workers had become “arrogant”.
The commission said this was at odds with claims by the Australian Council of Trade Unions and left-leaning researchers that all businesses are taking a larger share of national income at the expense of workers., the commission said policymakers should remain focused on ways to boost productivity. EY chief economist Cherelle Murphy noted that the unemployment rate had bounced around between 3.4 and 3.7 per cent for the past year.While total employment was up, full-time work positions increased by just 2800 while the number of hours worked fell by 0.5 per cent. In a sign of the tightness of the job market, the participation rate reached a fresh record of 67 per cent.
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