Michael Pascoe: Why you might never see that ‘wage growth’ we hear about

Comparing wage outlooks versus what eventuates paints a stark picture. Photo: Getty/TND

One thing we know for sure about the Reserve Bank of Australia – it knows even less about the outlook for wage growth than it does about inflation. Ditto Treasury.

For the past dozen years, a graph of official wages forecasts versus outcomes has provided a laugh in any economic presentation. There’s a good chance that will continue to be the case.