Workers Share Shrinks as Profits & Productivity Soar

Updated 29 days ago

ABS data reveals that businesses can easily afford fair wage increases that would stop further real wage cuts and address the cost-of-living crisis.  Productivity is growing at almost twice the average rate over the past decade and profits are increasing at more than 20 per cent, but labour share of GDP has hit an all time low.

Urgent action is needed to ensure that working people share in the wealth of the economy and in the recovery from the pandemic. 

Our country needs to face up to this enormous challenge. Working people must not have their living standards go backwards.

It’s time for action to end years of low wage growth and real wage cuts to ensure the over 13 million working people of our country are sharing our nations prosperity.

At the moment they are not, and this cannot continue.

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