The budget and why your wages are lagging 14 years behind

featuring Greg Jericho
Australian Treasurer Jim Chalmers speaks during Question Time in the House of Representatives at Parliament House in Canberra, Wednesday, May 15, 2024
AAP Image/Lukas Coch


The pandemic and runaway inflation reversed more than a decade of progress on living standards in just two years – and it’s going to be a long wait for them to inch back, says Greg Jericho.

What does the latest data reveal about Australian living standards? Why is there so much fearmongering about a wages breakout? And did the government hit the mark in the budget? On this episode, Greg Jericho discusses living standards, wages growth and this week’s federal budget.

Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. Each week on Dollars & Sense, Greg dives into the latest economic figures to explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.

Host: Greg Jericho, Chief Economist, the Australia Institute and Centre for Future Work // @GrogsGamut

Producer: Jennifer Macey // @jennifermacey

Theme music: Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to

Between the Lines Newsletter

The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.

You might also like

Stage 3 Better – Revenue Summit 2023

by Greg Jericho

Presented to the Australia Institute’s Revenue Summit 2023, Greg Jericho’s address, “Stage 3 Better” outlines an exciting opportunity for the government to gain electoral ground and deliver better, fairer tax cuts for more Australians.