Election issue: wages take 1.1% hit in real terms 

by | May 18, 2022 | Lobbyland

The ABS has released the March Wage Price Index showing that wages have fallen in real terms by 1.1% in the past year.

The latest WPI reveals that in the last quarter wages have grown 0.7% and grown by 2.4% annually compared to last year. 

However, when adjusting for inflation wages have actually fallen by 1.1% annually. This is using the trimmed-mean CPI of 3.5 favoured by RBA as it excludes very high and very low results.

Wages have been hit the hardest in the Northern Territory receding by 1.6% in real terms with small states Tasmania and the ACT being let off the lightest with a -0.7% hit.

https://twitter.com/13foot7/status/1526737836426153984

Callum Foote is a journalist and Revolving Doors editor for Michael West Media. He has studied the impact of undue corporate influence over Australian policy decisions and the impact this has on popular interests.

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