The slide in Australia s labour productivity – real gross domestic product per hour worked – has become a real concern. In the past year, labour pro
Unemployment fell to 3.6 per cent in May as the number of Australians with a job topped 14 million for the first time, but the hot labour market is likely to push the Reserve Bank to raise interest rates further next month.
Unless we boost productivity, wages growth could sink back to 2-3%. The Productivity Commission has some good solutions – and we’d argue redesigning the Stage 3 tax cuts should be on the list too.
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Australia s Council of Financial Regulators believes "most households" are managing despite soaring cost of living pressures, suggesting more interest rates hikes could be on the horizon.