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The New Daily
The New Daily
National
Matthew Elmas

‘Deeply negative’: Real wages plunge at fastest rate on record before jobs summit

Sean Langcake Inflation Callam Pickering ACTU Australia
Real wages are declining at the fastest pace on record, new official statistics have revealed. Photo: TND

Australian households are suffering under the sharpest decline in purchasing power on record as “sluggish” wages growth continues to lag behind skyrocketing prices for everyday essentials.

Official figures published on Wednesday revealed real wages fell 3.5 per cent when measured against headline inflation in the June quarter – even worse than the March quarter plunge.

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