Real wage growth is now 0%. With CPI announced this morning at 2.1% completely wiping out near record low wage growth of 2.1%.
Costs of essential items and services like electricity, gas and childcare continue to increase well above CPI, meaning that wages are going backwards compared to non-discretionary spending.
Quotes attributable to ACTU Secretary Sally McManus:
“Real wage growth is now zero. The system is failing working people who desperately need a pay rise to be able to afford to support themselves and their families.
“Working people in Australia should not be struggling to pay for transport, or healthcare, or to put food on their table. Australians need a pay rise.
“When the system is out of balance and big business has too much power, this is what happens. Balance needs to be restored so working people can win the pay rises they deserve.
“Turnbull’s trickledown economics does not work. We need to change the rules so that Australians get a pay rise.”