Wages growth lowest in 70 years

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ABC Fact Check has published some interesting analysis supporting Labor’s claim that “wages growth is now the lowest it’s been since records began”, while also showing that growth in average weekly earnings is at the lowest level in around 70 years:

Labor’s claim that wages growth is the lowest it’s been since records began is in the ballpark.

The wage price index published by the ABS shows that wages growth is lower now than at any time since the index started in 1997.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.