By Rob Burgess
Today Business Spectator can exclusively bring you two of the most boring charts you will ever see – the almost straight-line growth in hourly pay and total weekly earnings for Australian workers in the past two decades. What these … yawn … charts show is the dramatic lack of impact on wages or weekly earnings of three major rounds of industrial relations reforms.
Many of the welfare-to-work provisions of Working Nation were on the nose, but the decentralising thrust of enterprise bargaining was quite the opposite of a national tragedy – though it was a little hard to see at the time due to the fact that the lack of real independence at the RBA had allowed monetary policy to go horribly wrong, leading to the early 1990s recession.
Read more here: Business Spectator