The increased employment was due to efficiency gains brought about by the reforms, and was joined by a rise of 1.76 percent on what the real wage would have been had the reforms not been implemented, said the report.
The extra jobs were a major factor in the additional gross domestic product (GDP) created by the reforms. The report estimates the Australian economy was AU$10 billion greater in terms of total production in 2001-02 than it would have been if the reforms had not occurred. Most of the increase was attributed to employment and technological improvements, with capital accumulation having relatively little effect.
The report also indicates consumers are better off to the tune of AU$595-$878, which aggregates to AU$4,398-$6,490 million in 2001-02 dollars.
Small business benefits as well, with the reforms adding an estimated 1.87 percent to their gross profits. The profits of small businesses are currently AU$58 billion, which means the reforms added AU$900 million in 2001-02.
Other significant results from the report include a 57 percent rise in SMS usage and a 131 percent increase in broadband connections. There was a decrease in customer satisfaction over 2001-02, even though performance in the telecommunications sector improved.
