While some blame mass migration, economists say a 20-year productivity collapse has dramatically slowed the nation’s economy – hitting young people hard.

While some blame mass migration, economists say a 20-year productivity collapse has dramatically slowed the nation’s economy – hitting young people hard.

Growth in GDP per person has averaged just 0.7 per cent annually since 2020, the lowest level of any decade on record. Economists say it could get worse.

Policymakers have spent too long mistaking a larger economy for a more prosperous one and evaded the more difficult and consequential challenge of lifting productivity.