Are we getting poorer? Our productivity numbers indicate so.
by Marco Tapia
May 12, 2015
I began to study and write about Productivity back in 2011 at the pick of the mining boom in Australia.
Although our national wealth increased during that time, our productivity has been declining from even earlier than that. This is a significant concern to the business community and the country.
The main reason why this is a concern is because of the strong correlation between productivity and standard of living.
Put it simply, a poor country, in general has poor productivity. A rich, wealthy country with high standard of living has high productivity.
Look at the latest numbers below.
Source: OECD Stats
For advice on how your company’s productivity can be improved please contact me.
PicNet Pty Ltd