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Despite chief executives having bumper pay increases last year, the majority of Australian workers have seen their wages decline.
Figures released on Wednesday show the real value of wages has stagnated across the economy, with inflation and wages now growing at the same annual pace of 2.1%.
Wages had been keeping slightly ahead of prices since late last year but a rise in fuel prices, private health insurance premiums and tobacco excises in the June quarter has lifted headline inflation to match wages.
The most recent available data shows wages growing at 2.1% in the March quarter.
www.theguardian.com
Figures released on Wednesday show the real value of wages has stagnated across the economy, with inflation and wages now growing at the same annual pace of 2.1%.
Wages had been keeping slightly ahead of prices since late last year but a rise in fuel prices, private health insurance premiums and tobacco excises in the June quarter has lifted headline inflation to match wages.
The most recent available data shows wages growing at 2.1% in the March quarter.
Most Australians' wages have declined but CEO pay is better than ever
Workers in private sector, who are 85% of the workforce, are experiencing wages growth well below inflation
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