When the latest Australian wages data was released, it revealed yet another quarter of falls in real terms.
Overall, since peaking in the June quarter of 2020, real wages have lost 7.8 percentage points of the 17.1% growth seen in real wages since the inception of the ABS Wage Price Index in 1997, with 16 out of the last 23 quarters seeing a fall in real wages.
In an environment with more or less non-existent productivity growth, this is hardly surprising.
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