Tess Hardy

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November 2018

Article

New Book: The Wages Crisis in Australia

November 29, 2018 by Jim Stanford, Andrew Stewart and Tess Hardy

Australian wage growth has decelerated in recent years to the slowest sustained pace since the 1930s. Nominal wages have grown very slowly since 2012; average real wages (after adjusting for inflation) have not grown at all. The resulting slowdown in personal incomes has contributed to weak consumer spending, more precarious household finances, and even larger government deficits.