Nov 6, 2017

Cash-strapped Aussies buying less as wages, retailers languish

The Australian Retailers Association responded with undisguised alarm to the latest figures.

Alan Austin — Freelance journalist

Alan Austin

Freelance journalist

Figures released by the Australian Bureau of Statistics (ABS) on Friday show retail trade is in a serious slump, despite the robust international economic recovery. This data validates warnings that cutting wages, benefits and other income flows to half the citizenry will be disastrous for the economy.

The Australian Retailers Association responded with undisguised alarm. Executive director Russell Zimmerman said the ABS figures are “extremely frightening this close to the biggest trading period of the year”.

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17 thoughts on “Cash-strapped Aussies buying less as wages, retailers languish

  1. Chris Dengate

    Hmm, we want people to spend but won’t give them money.

    What could possibly be wrong with this scenario?

  2. graybul

    This govt can fool some of the people some of the time . . . but never all of the people all of the time. Keep it coming Alan. Facts trump crap!

  3. zut alors

    Perhaps some Australians have resolved to no longer purchase crap they don’t need.

    The galling terminology ‘retail therapy’ is heard less often lately.

    1. Kossoff

      Problem is that capitalism is about selling goods and services. The crap that people buy is the business model of a lot of retailers.

      1. klewso

        I sometimes wonder if people aren’t hoarding (buying while they can) for a financial freeze.

    2. Julie Burns

      I think you are onto something there. The public now needs alternative ‘therapy,’ given the state of this government.

  4. Graeski

    Anything that helps send Gerry Harvey et al broke, can’t be all bad.

    1. maria hatakea

      Gerry Harvey

  5. Srs21

    You are such a dill, scomo. Don’t you even read the ABS figures or ARA comments and their fear? Dear oh dear.

  6. brian crooks

    scott moronscum is even too dumb to get the starring role in the movie dumb and dumber, here is the treasurer of australia, a man with no economic training, no economic degrees, and no understanding of how an economy functions, overseeing the greatest attack on unions,wages and conditions and happily driving the car manufacturing Industry and thousands of jobs overseas and forcing up every aspect of the cost of living of ordinary families while at the same time giving tax cuts to the wealthiest in our society, the economy is in free fall while this fool and his equally dumb leader drift around talking to the fairies in their gardens and repeatedly shoving their feet further into the mouths

  7. bref

    Government policy across the board and over decades has lead to this debacle. Privatisation with little regulation has caused energy, comms and bank charges to rise to among the highest in the OECD and billions of profits to corporations. Dubious housing policies and tax benefits to the wealthy has lead to a massive shortage of housing leading to crippling prices (and curbing airbnb won’t solve the problem). Lack of support of manufacturing has lead to over 100K extra people on the job market.
    I’m sorry Mr Morrison but I can’t spend more at woolies or harvey norman. I’ll review that when I’m not spending $650/week on my rent or paying $800/quarter for electricity while putting food on the table for my children and save for a home deposit…

  8. klewso

    Slomo and his Magic Puddin’ Club and Wages Fairy.
    His donor base has what it wanted – strangled wages growth and all that goes with it (not least a strangled economy) ….. well maybe not the second, “sure as night follows day”, part?

  9. Marjorie Carless

    The only surprise is that the government is surprised! With wages stagnating, prices rising especially electricity and food, middle and low income people have less money to spend on anything else. This government seems to want to emulate the US in the homelessness, crumbling infrastructure, lack of full time jobs, minimum wage pitiful and business booming, profits rising.

  10. Bob Hatton

    And retailers, knowing that depressed wage growth is creating a slump in their sales, are going to lead the way and give its workers a much-needed pay rise. Or maybe not. How about slashing penalty rates instead. That should fix it.

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