Off the Charts // Economics
A picture tells a thousand words and Off the Charts is where you’ll find the charts and graphs that tell the most interesting stories. Across all the areas the Australia Institute covers, we give you the pictures that help you understand what is really going on in the world.
October 2023
Stronger Wage Growth improves the Economy and the Budget
Stronger wage growth will deliver more money to workers and also improve the budget position buy delivering more tax revenue
Enterprise agreements showing the value of bargaining
Enterprise agreements are now delivering strong wage growth and good outcomes for workers.
..Stage 3 Better: A way for the government to deliver better, fairer tax cuts and save money
The Stage 3 tax cuts cost too much, deliver little benefit to those who need it, and leave Australia less fair. We propose 4 ways to make Stage 3 Better
September 2023
Latest figures show workers continue to be the victims, not causes of inflation
The latest data of enterprise agreements shows just how necessary were the changes to the bargaining system made last year, as the number of workers covered by EBA’s remains low.
......Enterprise agreements are showing very pleasing signs of strong wage growth
Strong wage growth from enterprise agreements shows the importance of the government’s reforms.
Starting to see some signs of stronger wage growth from enterprise agreements
Some recent strong wage growth in enterprise agreements bodes well for workers
A record number of Australians are now working more than one job to make ends meet
In the past year the number of people working more than one job has risen 7%.
The government’s measure of “well-being” just plummeted
The three months to June saw one the biggest ever falls in the government’s measure of well-being.
August 2023
When it comes to jobs, sport kicks fossil fuels out of the park
We often hear how important fossil-fuel mining is for jobs, but the reality is sport is a much greater employer.
Enterprise agreements data shows wage growth remains steady despite some solid increases
The average wage growth in enterprise agreements shows that workers continue to see their real wages fall.
The Intergenerational Report shows a massive shift towards supporting wealthier individuals’ retirements
Jim Chalmers suggests the superannuation system is the intergenerational “genius” but it really means providing more support for wealthier people who do not need it.
The Intergenerational Report shows Australia’s population is ageing, but we need not panic
Australia’s population is set to age, but that does not mean we need to go without – we just need to be honest about paying for it.
The Intergenerational Report shows we need to talk about revenue
Australia not only is a low taxing nation, it now taxes less compared to the OECD than in the past – that will need to change if we are to provide the services Australians want.
The Intergenerational Report notes that productivity matters, but we also need to care as much about who benefits
The forecast of productivity growth in the Intergenerational Report is not all doom and gloom – but it will be if workers continue to receive less than their fair share of the benefits
. . .Good to see real wages no longer falling, but we have a long way to go
It is now 3 years since real wages have increased
Wage growth in Enterprise Agreements remains steady
The latest figures of wage growth in enterprise agreements show that wages continue to grow by much less than inflation
The latest latest inflation figures make it clear the RBA should not raise rates
The Reserve Bank should keep rates on hold as the biggest drivers of service prices will not be affected by interest rate rises.
July 2023
Workers Cause Inflation, but Owners Don’t?
Any time wages are increased business groups say it will fuel inflation, but they say nothing about the impact of their massive dividends
June 2023
The number of people working multiple jobs hits another record
For the sixth consecutive quarter a record number of people are working more than one job
OECD confirms that inflation has been mostly driven by corporate profits
In the debate over what is driving inflation – the OECD has looked at 15 nations across the world and found that in Australia and most other nations, the answer is profits
With the Budget predicting a bad year ahead the RBA should not raise rates next week
Whenever Australia’s GDP per capita has gone backwards through a year Australia has been in recession or nearly so. And right now the Budget expects that to happen in 2023-24.
May 2023
HECS/HELP debt for low income earners is set to increase due to indexation
The indexation of HECS/HELP debt this year will leave people earning less than $62,000 with a bigger debt even after their repayments.
As profits rise, workers continue to be the ones reducing inflation
While record company profits are dismissed as “short-term” workers continue to suffer ongoing falls in real wages
The RBA raised rates in March and May despite its own analysis saying they were not needed
The Reserve Bank’s own research showed that raising rates after February would only increase unemployment, not lower inflation
Wage growth under enterprise agreements shows no signs of driving inflation
Wages growth under enterprise agreements show that workers continue to be the ones doing it toughest during the period of high inflation
Surging mining sector profits are distorting Australia’s economy.
Profits in the mining sector are surging, but output is not – and the increased prices come at a cost to the rest of the economy
How the public is kept in the dark about what consultants tell the government
Less than 20% of consultants’ reports to government are published
Lower inflation but lower wages – the RBA predicts lower real wages
By the middle of 2025 the average wage will be worth less in real terms than it was a decade and half earlier
The latest enterprise agreements show public sector workers are being hurt by wage caps
Stronger wage growth in the private sector is good news, but public sector workers continue to be left behind
It’s not just mining – non-mining profits have also driven inflation
As the Reserve Bank continues to raise rates, it continues to misread the nature of inflation that is being driven largely by profits.
Curated by
Off the Charts is curated by Greg Jericho, Chief Economist at the Australia Institute and the Centre for Future Work.
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