Fairer deal needed for a new economic world

The Australian | Thursday 14 March 2019

2.jpg

Australia’s economic growth ground to a near standstill in the second half of last year and the economy is now experiencing a per capita recession, igniting fears the 27-year stretch of uninterrupted expansion is coming to an end.

As troubling as the GDP numbers are, Australia has been experiencing a period of wage stagnation since the global financial crisis, similar to that which has vexed the US economy since 2001, characterised by a decoupling of wages and productivity growth.