As we know, Australia’s economy has been sliding in per capita terms since immigration was ramped-up significantly in the mid-2000s:
This is illustrated by the collapse in GDP per capita, which has expanded by an average of only 0.5% per annum over the past decade:
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While the COVID-19 recession has obviously weighed down per capita GDP growth, growth was already very weak before the pandemic, growing by less than 1% per annum in the decade to March 2020.
