The return of overseas workers will allow business to sack low-performing staff, reduce labour hoarding and boost productivity, which will contribute to the jobless rate rising to just under 5 per cent, according to KPMG.
The big four firm rejected the idea of a “productivity crisis” in Australia and argued recent lacklustre company results could be explained by the workforce shake-up caused by the pandemic, which was now reversing.
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Ronald Mizen reports on politics, economics, business and the law, with a focus on corporate regulators, lobbyists and investigations from Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
