The government wants to wave it off. Traditional media want to ignore it. But zero wage growth is starting to be recognised as a real threat to Australia’s future.
Wage booms scare policymakers and employers alike. But what about wage slumps? Here we are, a month on from the federal budget papers: halfway into a decade-long trend of zero growth in real wages.
Worse, with the government’s policy settings, “zero” may be optimistic. The Morrison government settings are, after all, designed to hold back pay. If they keep working as well as they have been for the past five years, it will be no surprise if real wages actually fall over the next five.
The government wants to waive it off. The traditional media want to ignore it. But inside economic circles (and around kitchen tables), it’s starting to be recognised as a real threat to Australia’s future.
Read more about the impact of no wage growth…
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