Mike's Minute: Our high wage growth has been engineered
In watching the Prime Minister yesterday in the house, I once again wondered to myself whether he either has a clue economically, or whether he actually does but just assumes the people who may vote for him don't, so he can pull the wool over their eyes.
This time it was about the wages. He was crowing about the wage stats, saying the wage stats are up, hourly earnings are up and the median wage is up. Everything is up!
But - it's up above inflation.
Despite what the Prime Minister is desperately trying to tell you, that is not good.
By being above inflation the wages are inflationary. We do…
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