Australia’s wages crisis — unpacked

In Australia, wages have been growing at the slowest pace since the end of WWII — what the hell happened?

Dr Jim Stanford, economist and director of The Australia Institute’s Centre for Future Work

Consumer prices are going up. Labour productivity is going up. Wages should be going up. But they aren’t.” — Jim Stanford

“Even someone like Phillip Lowe, the Governor of the Reserve Bank, he’s there to take away the punch bowl whenever the party gets fun and he is saying ‘hey, wages are growing too slowly, it’s slowing down consumer spending, it’s making it impossible for us as the RBA to achieve our inflation target” — Jim Stanford

Follow the Money on Soundcloud
Source: Sydney Morning Herald, Anna Patty (2019)

“One way is to look at the cost of living people face, see what you need in order to live a decent, dignified life in Australia today and use that as the basis for a living wage” — Troy Henderson

an independent think-tank based in Canberra > australia.org.au

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store