Still Going Backwards In Real Terms!

The latest Wage Price Index data from the ABS came in below market expectations, and below the RBA expectations too. Despite this, in real terms we are still going backwards, and Public Sector workers are doing very poorly.

Other than those who managed to switch jobs to get a bigger rise, the real value of pay is being eroded – given the 8.4% inflation read last month.

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  1. Sounds like they might need some rent caps or other mechanisms soon especially for the public sector and service industries in tourist hotspots, it would also knock down some inflation.

  2. Fastest wage growth in a decade ain't much if youre talking the last decade.
    … and if you think that's tough try being on the govt pension or a super fund indexed to the 'new, inproved' CPI where your income is always going backwards, only the pace varies.

  3. My wealth as in hard assets has grown over 100% in the last 2 years and that is realised wealth which is quite modest compared to those that took on more risk. My wage growth was
    minimum in comparison but my income and net profits were great

  4. "The Big Short" Real estate is just going through a bit of a gully right now!! You should buy!! THEN……………… People in their cars. You should listen to real estate agents, the Govt and the FED/RBA and you will enjoy your own car so much more!! humans are truly proven stupid over and over- Gods, fake medicine, scams ect ect..

  5. There's money sloshing around the economy looking for anywhere to stick and the only way it ends is through deep recession. There absolutely has to be asset destruction and a curb in the wealth effect to destroy demand and reduce credit expansion and burn off a huge amount of that money that is sloshing around.

  6. Wage growth in the 4’s forecast? Lead by Philip Lowe awarding himself a 4.x percent pay rise recently… I simply cannot take these “experts” seriously when Lowe warns citizens not to ask for pay rise above 3pc. I hope workers get a 10pc pay rise this year. It can be funded by reducing our politicians and senior bureaucrats pay by the same amount. Let’s start with APRA, the the reserve board, then let’s take the extra super above 10.5pc the Polly’s give themselves, followed by all corporate CEOs.

  7. Always slam the poor wage earners who are a decade behind in wage rises, even a 10% raise will not keep up with the price rises imposed by Buisnesses for goods and services who announce record profits and CEO compensation

  8. Yet people are so confused when I hit the shops backwards on my bike.

    The more people who misunderstand me the higher my opinion of the topic. What do you expect of people who can't think past their feet

  9. If we don't end up with a WPI of 5%+ I will be truly shocked. But I believe that we've seen nothing yet. When the cash rate goes beyond 4% and then 25% of the population ends up with expenses being greater than their incomes, we're going to see real chaos. The RBA is right to be scared.

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