A history of Australian income slumps (members)

By Leith van Onselen

On Friday, I published a detailed post arguing that the Australian economy faces a “lost decade”, in reference to the anaemic income growth and rising unemployment that is likely to persist throughout the remainder of the this decade as the once-in-a-century commodity price and mining investment booms continue to unwind.

In Friday’s note, I showed the below chart, which plots the annual growth rates in per capita household incomes and the average growth rates for each decade: