Australia's $600 Billion Productivity Crisis: Why Generation Z May Never Live Better Than Their Parents

Productivity Commission Chair Danielle Wood warns of decade-long economic stagnation as Australia's growth hits 60-year low

Photo by Christopher Burns on Unsplash

The Productivity Commission, under the Albanese government, is working to address Australia's stagnant productivity for nearly ten years. The government is seeking public input on reform measures to ensure the prosperity of millennials and Gen Z.

The Commission has identified 15 key reform areas, including energy infrastructure and AI adoption, to address Australia's worst economic performance in 60 years, aiming to ensure the future of the country's prosperity.

Key Takeaways

• Economic Alarm: Australia's productivity growth has hit a 60-year low, with multifactor productivity rising just 0.1% in 2023-24

• Generational Impact: Without urgent reform, today's young Australians may be the first generation to live worse than their parents

• Reform Roadmap: 15 priority areas identified, including AI technology adoption, care economy efficiency, and energy infrastructure acceleration

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