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https://theconversation.com/dont-blame-workers-for-falling-productivity-were-not-the-ones-holding-it-back-207594>
"Suddenly Australians are being told we need to produce more if we want our
wages to merely keep up with inflation.
Reserve Bank Governor Philip Lowe has begun referring to “productivity” in each
of the statements he makes after each Reserve Bank board meeting.
Whereas in the past he has only said we needed to boost productivity to lift
real wages (to lift wages growth above price growth), he has begun saying we
need to boost productivity to justify wage increases well below inflation.
The Governor is right to say that labour productivity (output per hour worked)
is falling. He’s also right to say that’s unusual. But it would be wrong to
conclude that the solution is for workers to simply work harder."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
