How much national income goes to regular working people. It is measured quarterly by Australia’s statistics bureau in the series on the nation’s finance and wealth.
Since records have been kept, the amount of money Australian families have been free to spend has increased steadily almost every year.
Disturbingly, however, the last two losses of disposable income were in 2015 and 2017, during periods of strong global recovery, robust trade, excellent business revenue and record corporate profits.
‘Household gross disposable income’ fell in the year to December 2015, the transition year from prime minister Tony Abbott and treasurer Joe Hockey to Malcolm Turnbull and Scott Morrison.
There is no obvious explanation for this drop apart, perhaps, from Mr Turnbull’s saying that his predecessor had “not been capable of providing the economic leadership our nation needs”. However its obvious that he is not providing economic leadership our nation needs either.
The latest figures show that ‘household gross disposable income’ fell again in the March 2017 quarter.
Is working poor the new norm in Australia, is that the country we want to live in?