The latest national accounts showed that the share of national income going to profits hit an all-time high in the June quarter, whereas the share going to workers is at an all-time low:
Yet, economists at the Reserve Bank of Australia (RBA) claim that Australian workers are doing just fine because profits are being skewed by the mining sector:
After hovering largely between 50 per cent and 60 per cent for the past half century, wages as a share of national income dipped below the halfway mark for the first time in the past two years.
