Real take-home pay has fallen to where it was in 2011 and is not expected to recover to pre-pandemic levels for eight years as resurgent inflation erodes purchasing power, dampens sentiment and fuels voter discontent with the Albanese government and its economic management.
Wages have fallen 1 per cent in inflation-adjusted terms since the middle of last year, and by almost 5.5 per cent since March 2021, with prices of consumer goods rising more rapidly than worker pay.
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