Mate you need to get out more. Education is our third largest export industry after mining and agriculture and inbound tourism is right up there as well. So what’s so out of balance? Unemployment sits at about 5.3% and yes there is some underemployment but there is always people who want more hours. Where we have a problem is the lack of growth in real wages and this has a lot to do with lack of productivity growth.
Hopefully the massive infrastructure projects around Australia will start to flow through into productivity in the near future. The lack of political stability in Canberra has also kept business from investing and that has dragged on productivity growth. Who would want to invest in this country when we have had 6 prime ministers in seven years. Hopefully Morrison will serve a full term and provide some much need stability.
Having a set energy policy would be a very good thing too as it has been a shambles at the federal level and state level for more than a decade. Business needs stability and certainty before they can invest in large long term projects. International capital movements are very easy these days so companies have alternatives to Australia
