MSM economist , Jason Murphy, yesterday penned an hand-wringing article lamenting Australia’s poor wage growth:
So, why are wages so low?
The fall in wages isn’t just an Australian phenomenon. It has been global among advanced economies. And we still don’t know exactly why it has happened. This is one of the things economists have to admit sometimes. The economy is complex, we don’t understand it fully.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
