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The Times

Proof positive. Real wages are shrinking, Wednesday's figures put it beyond doubt

  • Written by Jim Stanford, Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
Proof positive. Real wages are shrinking, Wednesday's figures put it beyond doubtShutterstock/The Conversation

Every three months the Bureau of Statistics releases the lesser-known cousin of the consumer price index. It’s called the Wage Price Index (WPI) and it records changes in the overall level of wages, in the same way the price index records changes in the overall level of consumer prices.

Rarely does it generate...

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