News, media releases, opinions and articles from the Centre for Future Work.
The biggest real wages fall on record
The latest wages price index figures from the Bureau of Statistics reveal just how far workers ability to purchase items with what they earn has fallen. In his column in Guardian Australia, Labour Market and Fiscal Policy Director, Greg Jericho, notes that while nominal wage grew 2.6% in the past year, real wages fell 3.3%….
The latest taxation statistics reveal the massive gender pay gap across the whole economy
The 2019-20 taxation statistics released this week by the ATO provide a plethora of data that reveals with precision the salaries of people by location, occupation age and importantly, gender. The 2019-20 taxation statistics released this week by the ATO provide a plethora of data that reveals with precision the salaries of people by location,…
Interest Rate Hikes Will Hurt Workers to Protect Profits
The Reserve Bank of Australia has hiked its interest rate 4 times so far this year, for a combined total of 1.75 percentage points. And it has signalled more increases are ahead, as it joins other central banks around the world in rapidly increasing rates to slow spending power, job-creation, and hence inflation. The Reserve…
Rate rises look set to dramatically slow the economy
The latest raise in the cash rate has meant interest rates have increased by more in 4 months than they have anytime since 1994. This is expected to have a dramatic impact on the economy with the Governor of the Reserve Bank announcing that the RBA expects GDP growth in 2023 and 2024 to be…
A decade of real wages growth lost as prices soar ahead of wages growth
The latest inflation figures from the Bureau of Statistics reveal just how much workers have been left behind. Writing in Guardian Australia, labour market and fiscal policy director Greg Jericho notes that while the focus is on the biggest annual increase in inflation since the introduction of the GST, the data also shows that real…
The Job Summit needs to produce a fairer labour market
Despite unemployment at nearly 50 years lows, it will be little surprise to workers that wages growth is only at 3 year highs. Over the past decade the relationship between wages growth and unemployment has shifted such that levels of unemployment that would have once seen wages growing at more than 4% are now associated…