The WPI came out yesterday. When we are at full employment the annual increase was a puny 2.4%. Given inflation is at 5.1% and climbing real wages are falling.
The RBA has egg all over its face and not for the first time on this very important topic. Me thinks it is because they have completely discounted the regulatory environment. THE ALP under Gillard further de-regulated the labour market rather than re-regulating it. This has led to further falls in union membership. You just aint going to get decent wage increases without increases in union membership.
Meanwhile Steve Kates, Judith Sloan and various Liberal politicians are still waiting like godot for that inevitable wages break out. No they never mark their beliefs to market.
Given the election is in Saturday here are some interesting articles
- morrison-is-hoping-for-an-election-surprise-but-uncommitted-voters-rarely-turn-things-around-in-the-final-week
- modelling-2020-election-part-ii
- modelling-2022-election-closer-than-we-first-thought
- rolling-national-poll-roundup-2022
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