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Last week, IFM Investors chief economist, Alex Joiner, published the below chart showing the striking divergence in productivity growth between Australia and the United States:
Source: Alex Joiner (IMF Investors)
As you can see, Australia’s labour productivity has recorded near-zero growth since 2015, whereas labour productivity in the United States has risen by 13% over the same period.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.