Construction Productivity: Are We Measuring the Wrong Thing?

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We are repeatedly told that if we wish to maintain our current standard of living of about two percent per capita income growth per year, then we need our productivity growth to around 2.5 per cent per year.
While Australia has seen a slight increase in productivity growth to around 1.8 per cent per year in recent years, mainly due to capital deepening (an increase in the use of labour-saving technologies such as robotics and artificial intelligence), longer-term productivity growth has trended below this target. Continue reading here

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