{"id":17914,"date":"2024-01-08T06:00:06","date_gmt":"2024-01-07T19:00:06","guid":{"rendered":"https:\/\/themooraboolnews.com.au\/?p=17914"},"modified":"2024-01-31T18:53:20","modified_gmt":"2024-01-31T07:53:20","slug":"end-of-productivity-drop-no-cause-for-complacency","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/themooraboolnews\/news\/end-of-productivity-drop-no-cause-for-complacency\/","title":{"rendered":"End of productivity drop no cause for complacency"},"content":{"rendered":"<p><strong>Productivity Commission<\/strong><\/p>\n<p>Australia\u2019s labour productivity has halted its decline but mostly because people worked fewer hours in the 2023 September quarter, according to Productivity Commission research.<\/p>\n<p>For the first quarter since March 2022, labour productivity rose \u2013 increasing by 0.9% in the September quarter, although labour productivity was still down 2.1% through the 12 months to September.<\/p>\n<p>This increase in productivity was driven by a 0.7% decline in hours worked over the quarter coupled with relatively minor growth in GDP of 0.2%.<\/p>\n<p>\u201cThe amount of hours worked has increased every month since September 2021. Now that growth in hours worked appears to have peaked without an accompanying decline in output, productivity has slightly recovered,\u201d said Deputy Chair Dr Alex Robson.<\/p>\n<p>Thirteen out of 19 industries saw productivity growth in the September quarter. Construction, along with the professional, scientific and technical services industry, contributed 0.7 percentage points to this growth, while administrative and support services decreased labour productivity by 0.2 percentage points.<\/p>\n<p>The report says that this productivity result must be understood with reference to trends stemming from the COVID era.<\/p>\n<p>\u201cThe COVID-19 pandemic created a \u2018productivity bubble\u2019 as workers temporarily moved away from low-productivity sectors, like hospitality, towards higher productivity sectors,\u201d said Dr Robson.<\/p>\n<p>\u201cThat bubble burst as workers returned to those lower productivity sectors when pandemic-related restrictions eased. In the wake of this, we are only now seeing labour productivity approach pre-COVID levels.\u201d<\/p>\n<p>As such, the report cautions that this recovery is unlikely to reflect the beginning of a return to healthy long-term productivity growth.<\/p>\n<p>\u201cAustralia\u2019s productivity returning to 2019 levels is no cause for complacency, as that level came at the end of a decade of relatively weak productivity growth,\u201d said Dr Robson.<\/p>\n<p>\u201cIt\u2019s a further sign that the kind of sustainable long-term productivity growth Australia needs will require the type of policy reforms we highlighted in our Advancing Prosperity inquiry report.\u201d<\/p>\n<p>The Quarterly productivity bulletin is available from: www.pc.gov.au\/productivity-insights.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Productivity Commission Australia\u2019s labour productivity has halted its decline but mostly because people worked fewer hours in the 2023 September quarter, according to Productivity Commission research. For the first quarter since March 2022, labour productivity rose \u2013 increasing by 0.9% in the September quarter, although labour productivity was still down 2.1% through the 12 months [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/themooraboolnews\/news\/end-of-productivity-drop-no-cause-for-complacency\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":221,"featured_media":23410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[15],"tags":[],"post_folder":[],"class_list":["post-17914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>End of productivity drop no cause for complacency - The Moorabool News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/themooraboolnews\/news\/end-of-productivity-drop-no-cause-for-complacency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"End of productivity drop no cause for complacency - The Moorabool News\" \/>\n<meta property=\"og:description\" content=\"Productivity Commission Australia\u2019s labour productivity has halted its decline but mostly because people worked fewer hours in the 2023 September quarter, according to Productivity Commission research. For the first quarter since March 2022, labour productivity rose \u2013 increasing by 0.9% in the September quarter, although labour productivity was still down 2.1% through the 12 months [...]Read More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/timesnewsgroup.com.au\/themooraboolnews\/news\/end-of-productivity-drop-no-cause-for-complacency\/\" \/>\n<meta property=\"og:site_name\" content=\"The Moorabool News\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-07T19:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T07:53:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/28\/2024\/01\/productivity-640x318-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"318\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lachlan Ellis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lachlan Ellis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/news\\\/end-of-productivity-drop-no-cause-for-complacency\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/news\\\/end-of-productivity-drop-no-cause-for-complacency\\\/\"},\"author\":{\"name\":\"Lachlan Ellis\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/#\\\/schema\\\/person\\\/bfbc5a1c6baaf34dd181f21c64f18302\"},\"headline\":\"End of productivity drop no cause for complacency\",\"datePublished\":\"2024-01-07T19:00:06+00:00\",\"dateModified\":\"2024-01-31T07:53:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/news\\\/end-of-productivity-drop-no-cause-for-complacency\\\/\"},\"wordCount\":324,\"publisher\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/news\\\/end-of-productivity-drop-no-cause-for-complacency\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/28\\\/2024\\\/01\\\/productivity-640x318-1.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/news\\\/end-of-productivity-drop-no-cause-for-complacency\\\/\",\"url\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/themooraboolnews\\\/news\\\/end-of-productivity-drop-no-cause-for-complacency\\\/\",\"name\":\"End of productivity drop no cause for complacency - 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