https://www.bloomberg.com/news/articles/2017-07-13/this-is-china-s-real-economic-problem China’s GDP expanded 6.9% in the first three months of 2017, the fastest rate since the third quarter of 2015 However, total factor productivity, which grew on average of 2.7% a year from 1998 to 2007, has grown almost zero % since. By contrast, the US productivity growth has fallen from 1% to 0.5%…… Continue reading China’s slowing productivity
https://www.theguardian.com/business/2017/jun/21/australias-manufacturing-industry-on-rebound-report-says Report says Australian manufacturing jobs have swelled by 40,000 in the past 12 months, the second-largest number of new jobs created in any industry – and productivity has returned to near its previous peak Since 2008, manufacturing sector’s real output has declined by 13% (compared to its pre-financial crisis peak), and employment by a…… Continue reading ‘Manufacturing: A Moment of Opportunity’ is manufacturing poised for a recovery?
open trade and cross-border investment are key vectors for diffusion of new technologies and competition, which are central to achieving productivity gains and improving well-being Research published in conjunction with the Interim Economic Outlook suggests that a substantial part of the post-crisis slowdown in total factor productivity growth could be reversed if trade intensity were…… Continue reading OECD: Achieving and sharing the benefit of globalistion
http://www.theaustralian.com.au/business/economics/unemployment-falls-to-55pc-in-may-as-figures-beat-expectations/news-story/5ede0c480628e1a16a6d0275c3afab26 Australia’s unemployment rate dropped to a four-year low in May to a lower than expected seasonally adjusted 5.5% from 5.7% in April Lowest jobless rate since February 2013 Seasonally adjusted workforce participation rate rose to 64.9% in May from 64.8% n April Supports view that there is an underlying strength in the economy despite…… Continue reading Unemployment falls to 5.5% in May
https://www.rba.gov.au/publications/bulletin/2015/jun/pdf/bu-0615-2.pdf stronger growth in labour productivity has worked to contain growth in labour costs Declining wage growth reflects spare capacity in the labour market, a decline in inflation expectations, a lower terms of trade, and the need for the real exchange rate to adjust to improve international competitiveness. Decline in ToT and fall in mining…… Continue reading Why Is Wage Growth So Low?