Irony alert: Jericho Sell-out bewails poor per capita income

Lordy, talk about painting yourself into an intellectual corner:

The treasurer, Scott Morrison, tried to paint a nice picture of this, pointing out that “one third of the through-the-year increase was driven by average wages”, but that is actually a pretty poor result. Usually, average wage increases account for nearly 60% of the total wage growth.

Average compensation per employee grew by just 1.3% in the past year – a pitiful amount:

And worse, it means that as inflation grew by 1.9%, real average compensation per employee actually fell 0.6% in 2017.

In real terms, the average compensation per employee of $19,902 is now 3.7% below the peak of March 2012, and still below the $19,358 recorded seven years ago in December 2010:

Not surprisingly, in that time real household incomes have also been flat. While there was a slight improvement in the December quarter, real household incomes fell in 2017 and remain 0.1% below where they were at the 2013 election:

While the numbers are not terrible – the economy is still growing, investment in machinery and equipment is improving – there is very little to crow about.

At a certain point, boasting about not having experienced a recession for over a quarter of a century is going to seem pretty hollow, especially when both current economic and household income growth per capita remain at levels more associated with recessionary periods.

What is the point of the charts, Mr Sell-out, if you don’t explain the why? Couldn’t be that adding more people to a fixed endowment of resources dilutes the per person take could it? No, that would be racist:

Immigration – because there are many desperate to hate – must be treated with extreme care by politicians and journalists, and certainly with more care than Abbott seems capable. The inherently racist parties will seek to use any discussion and any seeming evidence of the negative impact of migrants as fuel to burn their fires of hate.

And what about the Fake Left journalist apologising for a grotesque people ponzi class war? What is he creating?