One simple question for the next elected representative [or candidate] you meet.
- There are four times as many unemployed seeking work than registered vacancies available.
- Wages, as a share of GDP are at their lowest level, ever… ever… Company Profits, as a share of GDP, are on track to break a new record…
Question: What’s your plan?
Let’s hope at some point Governments and employers remember that their employees are also their customers!
Ian Verrender [ABC] published a pointed reminder of the troubles inherent with globalisation and the assessment of growing inequality being overwhelmingly visited on the young.
Wages, as a share of nominal economic output, has fallen to its lowest level since the Australian Bureau of Statistics began collecting the figures back in 1959. It’s now dropped to just 46.2 per cent of GDP.
Leith Van Onselen, writing in Macrobusiness, (Subscription) also points out the pieces by Alan Kohler [Subscription] and Alan Austin [ The New Daily ] – It’s Offical – Regular Australians are getting poorer.
Austin notes: Using ABS household numbers, disposable income is now $29,640 per household per year. That is down from $31,960 six months ago. It is well below the $31,650 at the end of 2013.
- The G20 failed our youth as globalisation, deregulation and technology alienates workers
- Panic spreads over disappearing wages growth
- The Death of the Phillips Curve
- It’s Offical – Regular Australians are getting poorer.