Over the 12 months to the end of March 2021, wages rose by a dismal 0.72%. That’s according to recent data from the Australian Bureau of Statistics (ABS). Well, naturally, it has been a disastrous year for everyone, we might say in response, and this is only to be expected. We would be wrong. The year to March was a superb year for Australia’s corporate profits, which the same source said soared 12.1%.
Source: The Coalition’s pandemic: fantastic for profits, woeful for wages