Captain Nemo wrote on Nov 1^st, 2018 at 4:30pm:


Unfortunately your charts show only labour productivity. Inputs from both labour and capital need to be considered. They do not work in isolation and combine to form total factor productivity.




You will find that capital productivity has been in the shithole for most of this decade and strangling total factor as well. In time this will also stomp on labour productivity as investment dries up as a result. This is the primary reason why wages growth is only just keeping up with inflation.

Attempting wages growth above the rate of total productivity will most certainly add to inflation or unemployment ( but generally not both ).

aquascoot wrote on Nov 14^th, 2018 at 6:22am:


But the rest are catching up, and fast. Some have surpassed. Stagnation of living standards should not be taken lightly.

aquascoot wrote on Nov 14^th, 2018 at 6:22am:


Well except for the 200k homeless and the pensioners that dont own homes and have to pay rent

Spot

aquascoot wrote on Nov 14^th, 2018 at 6:32am:


That's not the salient point of the thread topic. There is no mention of 3 yos and tantrums. The argument is bimbo O'Dwyer and her assertion that wages are growing well. They're not. It is a very grave situation in the long term and by a long shot the most important indicator that requires action.

crocodile wrote on Nov 14^th, 2018 at 7:45am:


bimbo O"dwyer should say this to the australian people

"you are a bunch of entitled lazy pukes.  Get off your fat and lazy asses and go invent a few things and start a few businesses and stop all the pathetic ungrateful sooking".

that would be a truthful and possibly even helpful speech.

but politicians cant make that speech because there are simply too many chodes, too many people who are low energy 'takers".

but heres the paradox Croc.

if you think that a politician and their "policy" is going to "save' you, then you are screwed.

and if you can repeat the speech that O'dwyer should be making to us and accept it fully, then you are saved.

and the fact that so many people are playing such a mediocre game because they cant/wont accept that speech only makes your ascent easier.

it would be hard hard hard if everyone out there was a hungry and motivated wolf.

but thanks to their wanting to be pandered to, thanks to them being sheep, it is so easy to climb it is a joke.

if you live in australia in 2018 and it isnt going well for you, you suck, its on YOU

cods wrote on Nov 14^th, 2018 at 8:53am:


How is that 5 day week going to help a homeless person? Or a pensioner with exorbitant rent?

Spot

Bam wrote on Nov 1^st, 2018 at 5:03pm:


A couple of points. Firstly, this so called growth in "company profits" we have been seeing in the last few years are really more of a short-term cash grab, achieved I suspect from a combination of cost cutting and suppression of wages - rather than actual productivity growth due to investments in R&D and expanding their markets etc.

Secondly, wage growth will only follow company profit growth if employees have bargaining power, which requires things like low unemployment/underemployment and strong workplace protection laws. On the employment front, the most significant development over the last decade or so has been the rise in underemployment, which misleadingly stifles the official unemployment figure. Yet underemployment basically has the same effect as unemployment - reduces the bargaining power of the employer. Basically the employee says "why should I give you a pay rise when I know there are plenty of other people looking for a job and will happily take the crap pay I am offering?"   

https://www.abc.net.au/news/2018-02-27/companies-profit-season-done-but-where-ar...