From the Real Estate Treasurer:
“This has been a painful process but there are reasons to now be hopeful that we are near end of this adjustment process and consumers will start to see their real wages growing in line with productivity again,” he said in a speech to the Business Council of Australia on Thursday night.
Outlining a new Treasury analysis of the nation’s household income malaise, Mr Morrison said wages growth had been subdued since the peak of the mining investment boom five years ago and the problem has not been contained to a particular state, industry, occupation or pay grades.
