Strong wage growth used to be the norm


Last month, Treasurer Jim Chalmers spruiked on Twitter (X) that Labor had delivered Australians the strongest wage growth in 15 years:

Chalmers propaganda

Jim Chalmers propaganda poster plastered over Twitter

This was followed by Prime Minister Anthony Albanese, who told the National Press Club last week that “just as we promised Australians – wages are moving again… Wages are growing at their fastest rate in almost 15 years”.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.