The government believes it can’t allow “the tech bros to let it rip”, as one source puts it. But it can’t allow the country to fall behind the pack either.
Articles on Real wages
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By 2025, 45% of full-time workers in Australia had ‘six figure’ earnings. But years of high inflation mean cracking this threshold doesn’t mean what it used to.
A horror stretch starting in 2020 saw an entire decade of real wage growth reversed in just three years. It’s a long way back up yet.
Trump wants to jack up tariffs, deport millions of migrants and slash taxes. All three of these policies could fuel inflation.
In recent decades the institutions shaping wages have been transformed. Employers today enjoy far greater bargaining power.
Prices remain high and there is much more the government could do to help people.
Since the pandemic Australian workers’ share of national income and purchasing power has fallen at an unprecedented rate. New policies are needed.
Everyone is talking about how to alleviate energy prices this winter, but no one acknowledges that the average household has been getting poorer for more than a decade.
A tighter labour market than in the past is now needed to drive real wages growth.
If we want higher wages, we must win them through deliberate wage-boosting policies.
As inflation bites, targeted relief for those most affected by the rising cost of living would be the best short-term option.
The US economy ended 2021 with a lot of uncertainty and serious problems, such as inflation. How will economists know if things are improving in 2022?
The rise of superstar companies that dominate their industries may be partly to blame for the lack of wage growth in the US in recent years. It could also suggest a solution.
Employer groups are calling for a cut in real wages for low paid workers, but this would only exacerbate current problems.
Top contributors
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Associate Professor of Economics, Pace University
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Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
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Professor in Working Life, Discipline of Business Information Systems, University of Sydney Business School, University of Sydney
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Lecturer, Department of Sociological Studies, University of Sheffield
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Professor of Economics, Manchester Metropolitan University
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Senior Lecturer in Economics, University of Otago
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Professor of Economics, University of Greenwich
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Assistant Professor of Economics, The College of Wooster
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Assistant Professor of Economics, University of Dayton
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Scientia Professor of Economics, UNSW
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McKenzie Research Fellow, The University of Melbourne
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Director, Centre of Policy Studies, Victoria University
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Assistant Professor of Finance, St. Joseph's University
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Professorial Fellow, University of Canberra