WAGES GROWTH SLOWS AGAIN

JIM CHALMERS MP
SHADOW TREASURER
MEMBER FOR RANKIN
 
BRENDAN O’CONNOR MP
SHADOW MINISTER FOR EMPLOYMENT AND INDUSTRY
SHADOW MINISTER FOR SCIENCE
SHADOW MINISTER FOR SMALL AND FAMILY BUSINESS
MEMBER FOR GORTON
 
HON TONY BURKE MP
SHADOW MINISTER FOR INDUSTRIAL RELATIONS
SHADOW MINISTER FOR THE ARTS
MANAGER OF OPPOSITION BUSINESS
MEMBER FOR WATSON

New data confirms that already stagnant wages growth has slowed even further since the election.

Less than a week ago the Liberals were claiming that wages growth was going up but today’s figures show that annual wages growth actually went down in the September quarter.

No wonder so many Australians feel like no matter how hard they work they just can’t get ahead.

Today’s release of the ABS wage price index confirms that wages growth has fallen even further below Budget forecasts to 2.2 per cent over the year.

The slowdown was driven by a decline in both private and public sector wages growth over the year.

The Morrison Government’s spectacular failure on wages makes a mockery of Josh Frydenberg’s claim that “Wages growth is a core focus for this Government" earlier this year.

Australians are struggling, weak consumption is being driven by stagnant wages, household debt is at record highs, almost two million Australians are looking for work or for more work, and retail trade has had its worst result since the 1990s recession but the Liberals have no plan to turn things around.

Right when Australians need a plan to get their wages moving again, the Liberals and Nationals are too busy finger-pointing, blame-shifting, attacking unions, and squabbling amongst themselves.

It’s high time the Morrison Government stopped spending all its time playing politics and focussed on coming up with a genuine plan to restore the economic and wages growth which has deteriorated on its watch.

WEDNESDAY, 13 NOVEMBER 2019