Australians are working longer, not smarter

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Millie Muroi from The SMH noted that Australians are working more hours to compensate for declining productivity.

“Given productivity—the amount of goods and services produced for a given level of resources, including hours worked—has stagnated over the past decade, Australians may be compensating by putting in more legwork”, she wrote.

“According to the OECD, Australians worked an average of 1645 hours in 2023, or just under 32 hours a week—more than the 26 hours a week worked by Germans and the 31 hours worked in Japan”.

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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.