Wages are up! And, why non-compete clauses are bad for the economy
Wages are up over the past year, for the first time since 2021! Which means your real wage has increased as well, but by a small amount. Also this week, the Bureau of Statistics looked at restraint clauses, or non-compete clauses. So what do they mean for workers, and the economy as a whole? Lower wages, funnily enough.
Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia.
In Dollars & Sense, each week, Greg Jericho will dive into the latest economic figures, and explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.
Recorded on Thursday 22nd February 2024. Follow us on Twitter and Instagram or visit our website.
Subscribe to Between the Lines, the Australia Institute’s fortnightly-ish newsletter.
Host: Greg Jericho, Chief Economist, the Australia Institute and Centre for Future Work
Producer: Jennifer Macey
Theme Music: Blue Dot Sessions
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
New data shows many businesses are now using non-compete clauses – and that’s bad for workers.
Non-compete clauses limit the ability of workers to seek better pay and conditions and not surprisingly employers love them.
Corporate Profits Must Take Hit to Save Workers
Historically high corporate profits must take a hit if workers are to claw back real wage losses from the inflationary crisis, according to new research from the Australia Institute’s Centre for Future Work.
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