Australian workers' productivity falls 3.7 percent

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Australian workers' productivity falls 3.7 percent

STORY: Australian workers' productivity falls 3.7 percent SHOOTING TIME: March 1, 2024 DATELINE: March 2, 2024 LENGTH: 00:01:22 LOCATION: Canberra CATEGORY: SOCIETY SHOTLIST: 1. various of Australian construction worker 2. various of Australian factory worker STORYLINE: The productivity of Australian workers fell sharply in 2022-23, a government report has found. The federal government's principal review and advisory body, the Productivity Commission, has published its annual productivity bulletin, revealing that labor productivity fell 3.7 percent in the 12 months to the end of June 2023. By comparison, the long-term average annual growth rate for Australian productivity was 1.3 percent. The report attributed the fall in the cited period to a record-high 6.9 percent increase in the number of hours worked by Australians in the same period. "We now have a clearer understanding of what's behind Australia's productivity slump. Sharp increases in working hours have seen productivity decline, bu

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