An urgent productivity problem for Australia

Australia continues to be beleaguered by high labour costs and poor productivity, but a new report warns that job-shedding and mine closures won't be enough to provide miners with a route to long-term prosperity.

This week Rio Tinto’s new Australian managing director gave a speech in which he targeted labour market flexibility and regulation as impediments to improvements in national competitiveness. A Boston Consulting Group report on the ‘productivity imperative’ illustrates the urgency of the need for change.

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