But what actually lies behind all these metrics and statistics?
What are the benefits of strong productivity growth? How does productivity affect our day-to-day lives? What contributes to the lag? What even IS productivity?
On today's episode of
The Detail, Emile Donovan sits down with the chair of the Productivity Commission, economist Dr Ganesh Nana, to discuss all these questions – and why the concept of wellbeing has complicated what we prioritise.
Productivity, Nana says, can be neatly explained by imagining a hectare of land.
“If we've got a hectare of land, and we plant it with carrots, productivity is the measure of carrots we get every year out of that piece of land.