Today\u2019s Wage Price Index data confirms Australian workers continue to go backwards under Labor, with real wages falling in the 12 months to December.<\/p>\n\n\n\n
The latest quarterly figures from the Australian Bureau of Statistics show the seasonally adjusted Wage Price Index increased by 3.4 per cent in the 12 months to December, while the Consumer Price Index outstripped it at 3.7 per cent.<\/p>\n\n\n\n
That means the average Australian worker is poorer than they were 12 months ago.<\/p>\n\n\n\n
The data also shows real wages today are 2.1 <\/strong>per cent lower than when the Coalition left office. That means the average worker has lost around $1,500 per year in purchasing power under Labor.<\/p>\n\n\n\n Think of what struggling families could do with an extra $1,500. This is on top of skyrocketing energy bills and mortgage repayments.<\/p>\n\n\n\n Shadow Minister for Employment and Industrial Relations Senator Jane Hume said today\u2019s figures confirm what Australians already feel every time they tap their card at the checkout. <\/p>\n\n\n\n \u201cIf Australians are feeling poorer, it\u2019s not in their heads – today\u2019s data shows that they actually are poorer.\u201d<\/p>\n\n\n\n \u201cGroceries cost more, energy costs more, rents cost more, but under Labor, real wages aren\u2019t keeping up. When the cost of living rises faster than pay packets, households fall behind.\u201d<\/p>\n\n\n\n \u201cThis is what happens when a government ignores productivity and has no plan to tame inflation and strengthen the economy.\u201d<\/p>\n\n\n\n Shadow Treasurer Tim Wilson said Labor has turned a cost-of-survival crisis into a permanent feature of the Australian economy.<\/p>\n\n\n\n \u201cAustralians were promised higher wages, instead they\u2019re working harder for less,\u201d Mr Wilson said.<\/p>\n\n\n\n \u201cLabor\u2019s economic settings are baking in weaker incomes and lower living standards for years to come.\u201d<\/p>\n\n\n\n \u201cJim Chalmers is Australia\u2019s trillion-dollar Treasurer, and Australians are paying the price through higher inflation, higher costs and lower living standards.\u201d<\/p>\n\n\n\n Shadow Minister for Finance Claire Chandler said the figures were a direct consequence of unchecked government spending.<\/p>\n\n\n\n \u201cWhen the government splurges, families are forced to tighten their belts,\u201d Senator Chandler said.<\/p>\n\n\n\n \u201cLabor\u2019s spending is pushing prices higher and quietly stripping value from every pay cheque.\u201d<\/p>\n\n\n\n \u201cWe must restore Australia to a country where life is affordable, where young Australians can buy a home, where you can raise a family, and where there\u2019s a fair go once again.\u201d<\/p>\n\n\n\n And the outlook is only set to worsen. The Reserve Bank\u2019s latest forecast expects real wages to fall for the entirety of 2026. <\/p>\n\n\n\n Real wages measure what workers can actually buy with their wages after accounting for the prices they pay for goods and services, and are a key measure of living standards.<\/p>\n\n\n\n Only the Coalition will protect Australians\u2019 way of life and restore their standard of living.<\/p>\n","protected":false},"excerpt":{"rendered":" Today\u2019s Wage Price Index data confirms Australian workers continue to go backwards under Labor, with real wages falling in the 12 months to December. The latest quarterly figures from the Australian Bureau of Statistics show the seasonally adjusted Wage Price Index increased by 3.4 per cent in the 12 months to December, while the Consumer … Continue reading “Real wages going backwards in Labor\u2019s failed economy”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-37524","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=37524"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37524\/revisions"}],"predecessor-version":[{"id":37525,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37524\/revisions\/37525"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=37524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=37524"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=37524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}