August 2022

July 2022

A decade of real wages growth lost as prices soar ahead of wages growth

by Greg Jericho in The Guardian

The latest inflation figures from the Bureau of Statistics reveal just how much workers have been left behind. Writing in Guardian Australia, labour market and fiscal policy director Greg Jericho notes that while the focus is on the biggest annual increase in inflation since the introduction of the GST, the data also shows that real wages have fallen drastically.

June 2022

May 2022

Real wages plummet and will take years to recover

by Greg Jericho in The Guardian

The release of the March Wage Price Index confirms what a horror year it has been for workers. While inflation in the past 12 months rose 5.1%, wages grew just 2.4%. Even worse, in the past year the price of non-discretionary items rose 6.6%, meaning for those on low wages, who spend more of their incomes on essential items, real wages would have fallen even more than the 2.6% average fall.

Why commentary that wages growing in line with inflation will drive up inflation is completely misguided

by Greg Jericho in The Guardian

Today the opposition leader, Anthony Albanese was asked about wages in the following exchange: Journalist: “You said that you don’t want people to go backwards. Does that mean that you would support a wage hike of 5.1% just to keep up with inflation? Anthony Albanese: “Absolutely”. Any other response would be to suggest that real

April 2022

House prices means interest rates do not need to rise much to inflict great costs

by Greg Jericho in The Guardian

The more than a decade long period of the Reserve Bank going without raising interest rates looks set to end. Rising inflation and the unwinding of the pandemic restrictions and border closures means that the emergency cash rate of 0.1% will soon go up. But at the moment the market expects before the end of next year that it will rise to above 3%.

March 2022

A budget for buying votes or backing workers? [webinar]

featuring Ebony Bennett and Greg Jericho

Today we bring you another conversation from the Australia Institute’s webinar series. The Coalition Government’s ninth Federal Budget on 29 March will be an election Budget. Against the backdrop of a cost of living crisis, ACTU President Michele O’Neil looks beneath the likely hype to talk about what will really matter for workers. This was

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