The March quarter national accounts, released on Wednesday, was another shocker for Australian households.
As already reported, real average compensation per employee declined by 0.8% in the March quarter and is now 3.5% lower than March 2012:
Yesterday, the Reserve Bank of Australia’s released further data, derived from the national accounts, showing that real per capita household disposable income (HDI) has experienced zero growth since December 2011:
Below is the same chart summed over four quarters, which paints the same picture:
Around eight years ago, MB argued that Australian households were facing a “lost decade”.
We’ve been proven correct, based on this data.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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