Articles on wage growth

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The forecast for Australia’s economic growth in 2019-20 has been cut by 0.25%, and the projected surplus for this financial year slashed by A$2.1 billion. The Conversation

Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update

Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update. The Conversation, CC BY29.7 MB (download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
The update has slashed growth and surplus forecasts, as the economy is buffeted by global and domestic pressures. Lukas Coch/AAP

Lower growth, tiny surplus in MYEFO budget update

The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
Failure to further strengthen the compulsory super system would be disadvantageous to many future retirees and be an added burden on a later generation of taxpayers. Shutterstock

Grattan on Friday: How ‘guaranteed’ is a rise in the superannuation guarantee?

Liberal senator Andrew Bragg is one of the Coalition backbenchers who oppose the scheduled superannuation guarantee rise to 12%. They are looking to the retirement incomes inquiry to leverage change.
As uncertain as 2019-20 is, The Conversation’s team of 20 leading economists are in broad agreement that the outlook isn’t good. Scott Morrison and Treasurer Josh Frydenberg will also have to deal with the unexpected. Wes Mountain/The Conversation

Buckle up. 2019-20 survey finds the economy weak and heading down, and that’s ahead of surprises

The Conversation's distinguished panel predicts unusually weak growth, dismal spending, no improvement in either unemployment or wage growth, and an increased chance of recession.
Things will continue to look good enough for long enough to help the government fight the election. Beyond that, the Conversation Economic Panel is worried. Wes Mountain/The Conversation

No surplus, no share market growth, no lift in wage growth. Economic survey points to bleaker times post-election

The Conversation has assembled a forecasting team of 19 academic economists from 12 universities across six states. Together, they assign a 25% probability to a recession within two years.
Households feeling the pinch from frozen wages feeds into slower economic growth, and policymakers need to find a solution. Bacho/Shutterstock

This is what policymakers can and can’t do about low wage growth

Governments can't undo the technological changes behind frozen wages and rising inequality. The best policy is to invest in education and training to give workers skills of value in the new economy.
Aggregate demand is being hit by the concentration of income growth among the top earners and is now a drag on economic growth. Shutterstock

How rising inequality is stalling economies by crippling demand

News that Australian CEO pay has soared to a 17-year high at a time when ordinary workers' wages are flatlining is ultimately bad news for economic growth and prosperity.

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