Labour shortage to hit economy by 2030

Original article by Mark Ludlow
The Australian Financial Review – Page: 9 : 4-Aug-14

The Boston Consulting Group has issued its new "Global Workforce: $10 trillion at risk" report, which looks at 25 nations. It predicts that in Australia there will be an under-supply of some 2.3 million workers by 2030, based on an average labour growth rate of just 1.03% per annum until 2020. This will combine with continuing GDP growth of around 3% per year due to Australia’s wealth of natural resources. Boosts are needed to labour productivity, workforce participation, and investment in technology and innovation


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