How has the labour market 'deregulation' contributed to Australia's productivity growth? Labour Market Deregulation Definition Labour market regulation refers to the imposition of rules, whether informal or formal, impacting and controlling and restricting the behaviour in which labour can both operate and be dealt with. Sources of regulation and control come from not only the Government, Industrial Commissions other government institutions but lobbyist groups such as workers unions and commerce associations. Labour market de-regulation is …
showed first 75 words of 1058 total

showed last 75 words of 1058 total
…be inferred from the rest of the document? From 1993 to 2003, the average rate of growth was in real GDP (Gross Domestic Product) was 3.8% whilst the population grew at 1.2% leaving a real GDP net increase of 1.6%. When taking other factors out of the equation it is clear that the greatest source of growth has come from Labour productivity accounting for 1.8% of growth. (ABS, 2004). Labour-Productivity growth (in the non-farm sector) between 1983 and 1993 was just 0.68% per annum (RBA, 1995 ).