Unlocking Productivity - Productivity Insights

Productivity in both Australia and New Zealand is low, and it looks like the trajectory isn’t likely to improve in the next five years.
This economic measure of income growth seeks to quantify how efficiently resources, such as capital and labour are used to produce output – such as the goods and services we consume every day.
While productivity appears to be impacted by the pandemic in Australia, there are also systemic issues in New Zealand, if recent modelling is anything to go by. Either way, at the end of the day, it’s causing a big headache for organisations in both regions.
Productivity in Australia and New Zealand

• Australia has a long way to go in the race to bolster productivity
• New Zealand highlights innovation as crucial to improving productivity
• Both nations face higher costs of living and stagnating wages
• Adoption of digital tech is seen as a way forward

More information on the MYOB BLOG here.