The Forum > General Discussion > Productivity
Productivity
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http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1370.0.55.001~2011~Main%20Features~Home%20page~1
It has measures of social, economic and environmental well-being and while there is much to be optimistic about, there are some worrying signs too, it seems to me.
On health, it is pleasing to see that boy's life expectancy at birth is edging closer to girls, with the average gap down to 4.6 years.
Higher education, which is dominated by women at the rate of 2:1, has increased its reach by 50% over the past decade. Much of that increase will have come from educational opportunities offered to single mothers. At the same time, vocational training is at best static, suggesting that the drive to get boys to do trades is not being successful, which demands we ask why. My feeling is that vocational training is nearly always linked to having a job, so the static outcome is demand driven.
Unemployment has been steadily falling for the past decade, driven to a large extent by the massive increase in bureaucracy and in government funded non-profit health and social services sectors. At present 35% of all our tax goes to paying for this and other more obvious welfare and redistributive measures and that's going up. How long can we keep paying people to do stuff that isn't necessary simply so we can say they've got a job?
Crime is falling, despite the alarming headlines.
National income per capita peaked in 2008 and has been steadily falling ever since.
At the same time, net national wealth per capita increased, based on the bubble in house prices and significant investment in mining.
Real household income has gone up for low and middle-income households, largely due to the redistribution mentioned earlier.
Rental affordability has been largely unchanged across the decade.
And the big one - productivity. After rising steadily for the first part of the decade, it has plummetted since 2003-4. Goldman Sachs noted this as well, in a report in 2009, saying that female productivity is the big concern, running at roughly 50% that of men.
Any comments?