Australian households’ nine year income recession

By in Australian Economy, Australian recession

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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 van Onselen
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