Economic Explainers - Retail Data - ACTU Australian Unions

Economic Explainer - Retail Data

Retail data – people are spending less because there’s a wage crisis.

The Australian Bureau of statistics released figures this week that showed retails had dropped by 0.1 percent in April.

This is due to the wages crisis and how much people are cutting back, spending less because they can’t keep up with the cost of living.

We’ve had six years of record low wage growth in Australia – wages have flatlined. Working people are cutting back on a lot of their discretionary spending. When wages don’t keep up with the cost of living people simply spend less in their local communities. This is hurting local business and it’s clear we need workers to have more money in their back pockets, not less.

But the Morrison Government keeps telling us that our economy is strong and money from corporate tax cuts will trickle down. It’s not true.

Working people need fair pay rises.

We can win fair wage rises if we stick together. Join your union.