Original article by Adam Creighton
The Australian – Page: 2 : 26-Jun-19
The Commonwealth Bank of Australia has released a report which shows that the public sector accounted for 85 per cent of jobs that were created in the year to May 2019. CBA economist Gareth Aird notes that a rise in public sector employment tends to result in a short-term increase in demand in the economy, but it does little to boost productivity. Aird adds that the non-productive nature of most public sector work is a key reason why GDP growth is slowing while jobs growth is strong.
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA