Construction the drag on productivity

Original article by David Marin-Guzman, Matthew Cranston
The Australian Financial Review – Page: 6 : 4-Dec-19

The Reserve Bank of Australia’s analysis shows that the construction sector was the biggest contributor to the decline in the nation’s labour productivity in 2018-19. The central bank’s Statement on Monetary Policy notes that this may be due to construction firms retaining idled workers in the hope that the residential development sector will rebound. However, the RBA’s analysis could weaken the CFMMEU’s recent proposal for annual pay rises of five per cent for New South Wales building workers.

CORPORATES
RESERVE BANK OF AUSTRALIA, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIAN BUREAU OF STATISTICS

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