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Peter Harris Chairman, Productivity Commission

Peter Harris Chairman, Productivity Commission. 29 May 2014. Contributions to growth in average incomes – same LP growth as last ‘decade’. Same growth as 2000-2012. Note: 1.3 per cent labour productivity growth and no contribution from foreign income flows assumed to 2022

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Peter Harris Chairman, Productivity Commission

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  1. Peter Harris Chairman, Productivity Commission 29 May 2014

  2. Contributions to growth in average incomes – same LP growth as last ‘decade’ Same growth as 2000-2012 Note: 1.3 per cent labour productivity growth and no contribution from foreign income flows assumed to 2022 Source: ABS cat. no. 5204.0, unpublished ABS data, Treasury calculations and PC calculations

  3. Contributions to growth in average incomes – needed for long run GNI growth Needed to preserve long-run GNI per capita growth Note: No contribution from foreign income flows assumed to 2022. Long-run GNI growth of 2.3 per cent a year. Source: ABS cat. no. 5204.0, unpublished ABS data, Treasury calculations and PC calculations.

  4. Productivity in different sectors1989-90 to 2012-13, index 1989-90=100 Financial and insurance services Mining Manufacturing Utilities Source: ABS (Estimates of Industry Multifactor Productivity, 2012-13, Dec 2013).

  5. Multifactor productivity growthin selected countries and regionsAverage annual growth rates, per cent Data source: The Conference Board Total Economy Database™, January 2014.

  6. Labour productivity and real wages: Australia and G20

  7. Ageing will reduce economy wide participation rates

  8. Current expenditures are weighted towards older Australians

  9. Mismatch between life expectancy and retirement policy People are living longer, but not increasing the time spent in the workforce

  10. Growth of the oldest old is set to soar

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