The ACTU must realise that many of the proposals in a major new Productivity Commission report will align with its own goals, writes Craig Emerson.
famously observed that “productivity isn’t everything but in the long run it’s almost everything”. It turns out that in Australia’s case he is wrong. Productivityeverything. It is responsible for all the increase in Australian living standards since Federation.
In fact, the Productivity Commission reports that productivity growth is now at its slowest in 60 years.If not for a pronounced increase in women joining the workforce to offset this productivity slump, along with sharply rising exports to China, Australia’s living standards would barely have improved since the turn of the century.
It also acknowledges that in determining wage outcomes, at least in the near term, the relative bargaining power between business owners and employees and the regulatory settings that govern their interactions are important. Much has been made of changes to the so-called single-interest stream of multi-enterprise bargaining that was also part of the bill legislated before Christmas. Let’s see how it operates in practice. If it motivates employers to engage inBeyond industrial relations laws, the scope for productivity improvements is constrained by the big shift in the structure of the Australian economy to services, which now make up 80 per cent of the economy.
Along with the nursing and aged care professions, teaching will need to be elevated in status and remuneration. Teachers complain of burnout brought on by a much-increased administrative load.
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