Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - AU
The Guardian - AU
Comment
Greg Jericho

Wages growth should be skyrocketing on the back of Australia’s low unemployment. Is the system broken?

Unemployment Australia Inflation
‘Wages are supposed to respond to lower unemployment and higher vacancies,’ writes Greg Jericho.
‘Wages are supposed to respond to lower unemployment and higher vacancies,’ writes Greg Jericho. Photograph: Bianca de Marchi/AAP

The current low level of unemployment is a superb real-world test for Australia’s labour market. If we can’t get strong wages growth now, then it will be impossible to avoid acknowledging the system is broken, and the government’s job summit in September is the perfect time to begin fixing it.

The 3.5% rate of unemployment in May is quite stunning. Yes, it does seem a little bit too good to be true. The Bureau of Statistics estimates, for example, that the total number of unemployed across Australia fell a massive 10% in one month.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Ground Beef and Strawberries Cost More as New Federal Diet Advice Puts Protein at Every Meal
Ground beef rose 7.4% and strawberries 10.4% in a year, as federal dietary advice stresses protein. Beans, eggs, and frozen produce can ease the cost.
Medical Daily
Medical Daily
Dog gives you the guilty look? Here's what research says it actually means
Walk into a room where something has gone wrong and your dog is already doing it: head low, ears back, eyes wide and soft, maybe a slow tail wag aimed at the floor. Every owner reads this the same way. The dog knows. Except the research says that is probably…
Times Pets
Times Pets
80 Beautiful Pottery Creations That Prove Creativity Has Absolutely No Limits (New Pics)
It’s stunning what people can create with just a lump of wet clay, their own hands, and a little bit of love and creativity. On r/Pottery, folks with all kinds of experience share the most amazing and creative things they made. So, as you scroll and admire the pieces, let…
Bored Panda
Bored Panda
The Story Behind Little Trees Is Even Stranger Than You Think
The iconic tree-shaped air freshener started with a smelly milk truck in 1952. Here's how Little Trees became a car-culture staple.
Motor1
Motor1
Would You Send Money to Someone You’ve Never Met? Romance Scammers Know How to Make You Say Yes
The first request for money might arrive after weeks of sweet messages, late-night conversations, and promises of a future together. It might sound less like a scam than an awkward favor between two people who care about each other.
Clever Dude
Clever Dude
Heavier Phone Use Past 10 at Night Linked with Teens Falling Asleep About 65 Minutes Later
On nights with extra phone use after 10 p.m., teens fell asleep about 65 minutes later, a JAMA Pediatrics study found. What parents can do.
Medical Daily
Medical Daily
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play