Growing awareness

A recent Australian report (Australian Labour Market Statistics) indicating economic growth nicely explains that growth is the result of “the three Ps”– population, participation and productivity. This means that a larger population fuels growth (but the rewards have to be shared by more people), as long as that population participates as part of the workforce at the same or higher levels than previously (this means that they must want to – and the jobs must be there). The third factor is the real “value add” –when that participating population works smarter and more efficiently.