We need to 'improve productivity' if we all want to be 'better off'

The Motley Fool Chief Investment Officer Scott Phillips says we “need to improve productivity”. The Fair Work Commission increased the minimum wage by 3.75 per cent, yet productivity remains weak. “I think realistically, there are no meaningful improvements in productivity,” Mr Phillips told Sky News Australia. “It’s been laggy for probably 20 years. “If we all want to get better off, we all need to improve productivity,”