Business
Underemployment and wages stagnation threatens COVID recovery, warns economist – ABC News
A leading economist warns labour market slack will push workers’ take-home pay lower over the next two years, threatening the nascent Australian economic recovery….
A leading economist is warning labour market slack will push your take-home pay lower over the next two years and that could threaten the nascent Australian economic recovery.
Key points:
- Wages are expected to grow just 1.25 per cent per annum for the next 18 months
- Over the same period, consumer prices are expected to rise 1.5 per cent per annum, meaning workers’ purchasing power will fall
- EY’s analysis shows that underemployment, rather than unemployment, accounts for most of the weakness in wage…
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