Australian workers cop worst pay cut in 20 years
Wages in Australia are going backwards in real terms, according to recent statistics released by the Australian Bureau of Statistics (ABS).
Inflation for the year of 2021 was 3.5%, while wages only increased on average by 2.3% over the same period of time – meaning working Australians on the average income of $68,000 received a pay cut of $832 last year.
The Australian Council of Trade Unions’ Sally McManus described this as “the worst pay cuts workers have faced in over 20 years in real terms”.
“The recovery from the pandemic relies on real wage growth so that working people can keep up with the rising cost of living. Instead, the Morrison Government has delivered a pay cut,” she said.
McManus called on the Morrison Government to work with unions to increase wage growth across the county.
“The Prime Minister should be working with unions to create wage growth and more secure jobs, rather than attacking frontline workers in an attempt to save his job.
The Reserve Bank of Australia is predicting that inflation will continue to outstrip wages until at least the middle of this year.