We got WAGES data yesrday. Even though it was the largest rise in 26 years it was influenced by a number of one-offs. Indeed the annual rate of increase is likely to fall in coming quarters.
If there was a wages breakout going on it would be increasing.
A wages breakout needs organised labour and unions are at a very low ebb. That being so wages breakout people do not understand what happened in the 1970s nor why it happened. That includes the RBA as well.
No comments:
Post a Comment