As Anthony Albanese campaigns on the cost of living, the OECD reports our wage growth lags the UK, Canada and the United States, but is better than New Zealand and Italy.
The latest employment outlook from the OECD found real wages in Australia remain 4.8 per cent below pre-pandemic levels.
The latest employment outlook from the Organisation for Economic Co-operation and Development found real wages in Australia remained 4.8 per cent below pre-pandemic levels. Prime Minister Anthony Albanese is travelling to marginal seats this week to promote the government’s cost-of-living measures. Polling, including this masthead’s, shows support for Labor continues to fall as Australians feel the pinch.
Real wages have inched up recently: in March, wage growth outpaced inflation by half a percentage point, according to the Australian Bureau of Statistics, after just overtaking inflation by 0.1 of a percentage point in December 2023. Asked on Tuesday if he was concerned that people with jobs were struggling to make ends meet, Albanese noted real wages had started to grow.
“The Albanese Labor government has completely failed to address the source of Australia’s cost-of-living crisis – inflation,” he said at the end of last month. “We are in an entrenched cost-of-living crisis, with no light at the end of the tunnel under Labor.”
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