Adjusted for inflation, Australians are being paid less than they were in 2020. These 4 charts show what’s changed in how we work – and the growing gap between your pay and what you can afford to buy.
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Higher wages can support a more productive economy.
The Fair Work Commission has granted a pay increase to Australia’s lowest-paid workers for a good reason. Even with rising inflation, the economy is strong.
The buying power of wages shrank a record 2.7% over the year to March, calling into question assurances about the link between low unemployment and high wage growth.
Kontributor teratas
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Professor, Discipline of Business Information Systems, University of Sydney Business School, University of Sydney
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Professor of Economics and Political Economy, University of Leeds
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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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Associate Professor in Economics, University of Leeds
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Associate Professor of Finance, UNSW Sydney
