This is the Australian story for about two decades - low productivity, high immigration and declining living standards.
โWell Deloitte Access Economics has been producing quarterly economic reports for 30 years - and todayโs was among its grimmest.
3 months ago they were forecasting 2% growth for this financial year - now they reckon itโll be 1.3%.
And next year, 1.9% - which will be the longest stretch of sub 2% growth since the 1992 recession.
In the text, chief economist Stephen Smith says for too long strong population growth has masked a weak underlying productivity performance - and lifted growth while doing less for living standards.
And heโs predicting more of the same - hereโs his chart of population growth, history and forecast.
Basically, Deloitte is predicting that immigration and population growth will go back to what it was when it was masking weak productivity - and almost double what it was in the early 2000s.โ
@TracyWesterman You are blonde hair and green eyed, but speak for aboriginals? Do u identify or are partially blooded? How do full blooded aboriginals feel about your representation?
@karlstefanovic@elonmusk Karl, I used to think u were a flog. Maybe u still are, but I appreciate and stand alongside your efforts to encourage open debate and speech we should be able to enjoy