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Older, bigger, slower growing, more diverse. Living standards at risk of going backwards. These were the key takeaways from the latest Federal Intergenerational Report (IGR), writes Dr Liz Allen. The intergenerational bargain or contract, which implicitly suggests that the country handed to each subsequent generation is the same, if not better, than the socioeconomic conditions enjoyed previously, has been eroded. Increasing or maintaining living standards can no longer be guaranteed. Australia’s dumb luck has run out.
Australians are living through the most protracted period of economic misery since 2011. CEDA’s analysis of the “misery index” shows Australians’ economic misery remains high in the wake of the COVID-19 pandemic, and is starting to creep up again.
Read more Opinion article October 24, 2023There are growing calls for governments and employers to pull all possible levers to address Australia’s productivity crisis. One contributor to the crisis that has received less attention is the lingering mental health impact of the COVID-19 pandemic, and how to address it. Workers have been feeling overworked and burnt out in the aftermath of the pandemic. Australian workers appear to have suffered more than others, writes CEDA Chief Economist Cassandra Winzar and Senior Economist Melissa Wilson.
Read more Opinion article October 27, 2022Migration has made a vital contribution to Australia’s economic development over recent decades. Migrants have lifted the level of skills in Australia, facilitated the transfer of knowledge and international connections to Australian workers and businesses, and met around a third of increased skills requirements in the economy, writes CEDA CEO Melinda Cilento.
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