Australians are bracing for rampant price hikes and falling real wages despite a federal government pledge to ease the cost of living, with voters cutting their support for Labor as they shelve their hopes for higher living standards.

Source: https://www.theage.com.au/politics/federal/voters-cut-support-for-labor-as-cost-of-living-concerns-mount-20231109-p5eius.html?ref=rss&utm_medium=rss&utm_source=rss_politics_federal

But falling real wages in July adds to doubts over central bank projections that domestic demand can keep the country on a steady recovery path.

Source: https://cyprus-mail.com/2023/11/03/japan-unveils-113-billion-package-to-cushion-inflation/

FAMILIES in parts of Cheshire are worse off now than they were in 2010 after statistics show a drop in real wages across the country.

Source: https://www.knutsfordguardian.co.uk/news/23231764.families-parts-cheshire-worse-off-now-2010/?ref=rss

Former President Donald Trump responded to President Joe Biden’s State of the Union Address Tuesday night, focusing on the mass illegal immigration taking place at the southern border, crime, drops in real wages, and “corruption.”

Source: https://www.breitbart.com/politics/2023/02/07/trump-responds-bidens-state-ofthe-union-address/

His administration has been the most radical in modern American history, with trillions of dollars in reckless spending that has led to Bidenflation and caused two consecutive years of falling real wages and living standards.

Source: https://www.breitbart.com/politics/2023/04/25/exclusive-alfred-ortiz-another-reason-to-oppose-bidens-reelection-is-that-hes-siccing-the-irs-on-you/

However, although the labour market has remained relatively strong, Canadian workers have seen their real wages fall amid high inflation.

Source: https://torontosun.com/business/money-news/more-businesses-expect-sales-to-slip-as-high-inflation-rates-weigh-on-spending-boc

However, for the near-term the economy will get a boost from the large cost-of-living adjustment for Social Security, in addition to the rise in real wages in the second half of 2022.

Source: https://www.counterpunch.org/2023/01/25/what-to-look-for-in-the-fourth-quarter-2022-gdp-report/

Inflation-adjusted real wages, a barometer of consumers’ purchasing power, fell 1.6 percent from a year earlier, a faster decrease than May’s 0.9 percent drop, extending a streak of contractions since April 2022.

Source: https://business.inquirer.net/414716/japan-june-real-wages-down-for-15th-month-despite-solid-nominal-growth

It is the first time since October 2021 that real wages have increased, the ONS added.

Source: https://www.peeblesshirenews.com/news/national/23722878.unemployment-rate-ticks-wages-continue-grow/?ref=rss

Laurence Turner, head of policy at the GMB union, said: “The UK is being held back because real wages are stagnating for most people while employers channel money to those at the top.”

Source: https://www.stalbansreview.co.uk/news/national/23995867.pay-inequalities-remain-constant-research-suggests/?ref=rss

On top of this, there is the monetary overhang from years of cheap money and pressure from workers to increase pay after decades of decline or stagnation in real wages.

Source: https://www.ft.com/content/4d5a9b51-c6c6-4a8a-8f4e-6628befa5229

That means workers are effectively suffering a record cut in real wages, adjusted for inflation.

Source: https://www.dailymail.co.uk/news/article-11782745/What-earn-Australia-average.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

The Unite trade union said the rise in real wages would be “small respite” for many.

Source: https://www.pulse.ng/news/world/uk-wages-exceed-inflation-for-the-first-time-in-2-years-ons/wp7rprx

Treasury Chief Secretary John Glen announced that doctors and teachers would receive minimum pay increases of 6 percent, aiming to bridge the gap caused by industrial unrest and falling real wages.

Source: https://www.chiangraitimes.com/news/uk-offers-public-sector-workers-pay-rise-as-doctors-strike/

Workers and their unions add to inflation when they seek to increase their real wages by more than the productivity of labour justifies.

Source: https://www.theage.com.au/business/the-economy/why-the-rba-inquiry-should-propose-something-much-better-20230305-p5cphp.html?ref=rss&utm_medium=rss&utm_source=rss_business