New analysis shows the average frontline worker has not had a real pay rise for more than a decade.<\/p>\n
The McKell Institute\u2019s new report, \u2018A decade of wages lost\u2019, sheds light on the scale and impact of the nation\u2019s nominal wage increase and its recent decline.<\/p>\n
The report shows annual real wage declines over the last 18 months have left wages lower than they were 10 years prior. It finds:<\/p>\n
\u2022\tThe average real wage in Australia is lower today than at any point since September 2011
\n\u2022\tSome occupations, including nurses and correctional officers, have lost almost $3,000 in real wages compared to a decade ago. Even teachers, who have experienced a small real wage increase, have seen wages rise by just 0.6% in a decade
\n\u2022\tQueensland has suffered the greatest real wage decline in Australia at 2.5%
\n\u2022\tAustralia\u2019s two largest states were on par with average real wages in 2012. They have since fallen in NSW, while Victoria has among the highest in the country<\/p>\n
Report author and CEO of the McKell Institute Michael Buckland has warned policymakers to be cautious about placing downward pressure on wages. <\/p>\n
\u201cReal wages are at their lowest level in years. The nominal wage growth we have seen over the last decade has been wiped out by inflation,\u201d Mr Buckland said. <\/p>\n
\u201cWorkers across Australia have been exposed to the onset of inflation and low wage growth and will be worse off for years to come. Paramedics, registered nurses, correctional officers and firefighters are getting paid less, and have a lower standard of living today than they did ten years ago.<\/p>\n
\u201cGovernment policies have been driving anaemic wage growth. This has included public sector wage freezes, inaction on wage theft, and an expansion of the gig economy without adequate regulation. <\/p>\n
\u201cThe Federal Government will no doubt prioritise reducing inflation, but it must also balance this with recovering a decade of lost wages for workers. It will take years to regain the wage growth that has been fought for and now lost.\u201d <\/p>\n
To read the report in full, head to mckellinstitute.org.au\/research\/reports\/a-decade-of-wages-lost\/.<\/p>\n","protected":false},"excerpt":{"rendered":"
New analysis shows the average frontline worker has not had a real pay rise for more than a decade. The McKell Institute\u2019s new report, \u2018A decade of wages lost\u2019, sheds light on the scale and impact of the nation\u2019s nominal wage increase and its recent decline. The report shows annual real wage declines over the […]<\/p>\n