Slaying the Inflation myth
On The Job
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Are Our Wages Growth Putting Pressure on Inflation?
Wages of growth as essentially halved a. 20 11, if i recall correctly, o calling for that, there was a wages break out. And since then, wages of growth has essentially halved in the UK. The Reserve Bank tries to have inflation running at about two and a half%. That's the kind of their target. But they like productivity to grow at one % a year. So you put that together, and if wages are growing by three and a half %, then as stephen kennedy told the senate estimates committee, they're not putting pressure on, on in inflation. We've had decades of labor being underpaid and under ewarded for productivity benefit
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