Published: February 20, 2019
The horror run of record low growth appears to be over. Even so, 2.3% is far from the long-term average of 3.2%
The release of the latest wage price index data from the Bureau of Statistics yesterday brought the good news that wages are now growing faster than inflation. The bad news, however, is that growth unexpectedly fell in December and there are signs that it will be a long time before we get back to anywhere near the levels we once took for granted.
More than any other economic news, wages growth has stuck in the government’s craw. It’s all very well to talk up GDP growth or even more than a million jobs since 2013, but if wages aren’t growing it all seems a bit hollow.
Continue reading...from The Guardian https://ift.tt/2NihNRh
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