Are we getting poorer? Our productivity numbers indicate so.
Some images from the original article are no longer available. References to those images remain part of the historical text.
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.
The original article illustrated this point with OECD productivity charts, which are no longer available in this archive.
Source: OECD Stats
For advice on how your company’s productivity can be improved please contact me.
Marco Tapia
PicNet Pty Ltd