The forecasts tell a sad story. According to Scott Morrison back in 2016, we should currently be enjoying wages growth of 2.75% -- pathetically low by the standards of the recent years. A year later, he downgraded that to 2.5%. And last December, nearly half way through 2017-18, he dropped that to 2.25%.
With just one quarter to go, we're currently on 2.1%. And private sector workers can only dream of 2.25% -- they're on 1.9%. Many working in big industries like construction are seeing shrinking real wages despite our low inflation rate. The Reserve Bank is suggesting 2% might be the new speed limit for wages growth.