Big business no longer ‘beautiful’, competition minister warns

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Fewer workers changing jobs and a decline in business start-ups is contributing to higher consumer prices and a slowdown in living standards, says Andrew Leigh.

“When workers switch from low-productivity to high-productivity firms, they earn higher wages, and the economy benefits.The share of workers who started a new job in the past quarter declined from 8.7 per cent in the period from February 2002 to May 2008, to 7.3 per cent in the period from August 2008 to November 2019.

Dr Leigh will deliver the findings about the “deep-seated” economic problems in a speech, titled “A more dynamic economy”, at the Australian National University’s Gruen Lecture on Thursday night.was a renowned economist at ANU in the 1970s and 1980s, where he made a significant contribution to Australian economic and public policy debate.

“In competitive industries, companies are forced to ask themselves what they need to do to win market share from their rivals.

 

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it does not mean to import cheap labor from India We got 1.2mils Chinese under skills but they ended up as cafe owners stall holder Fruit shop vendors n estate agents Not engineers nurses or cyber security

Fewer workers changing jobs? Workers have never changed jobs more often? What world is he living in? politicians

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