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Wage growth for young Australians is ‘flat’, will be worsened by COVID crisis – NEWS.com.au
Young Aussie incomes are shrinking, as older Australians continue to earn
Young Australians incomes are shrinking, with low employment rates forcing those under 35 to eat through their savings as the incomes of older Australians continue to grow. A new report from the Productivity Commission has shown a higher retirement age and lower starting wages had led to a “lost decade” of wage growth, which experts predict will only worsen as the nation moves through the COVID-19 pandemic.
The report found parents, in an attempt to soften the blow, were transferring more money…
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