Waiting for Godot (and wage-price spirals)

Dollars & Sense

Despite claims by some business groups and commentators, a modest wage increase for workers isn’t going to send inflation skyrocketing, says Greg Jericho.

On this episode, Greg explains that wages should be rising faster than inflation and says claims a five per cent wage increase for the lowest paid Australians will lead to out-of-control prices and unemployment are little more than fearmongering.

Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. Each week on Dollars & Sense, Greg dives into the latest economic figures to explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.

australiainstitute.org.au // @theausinstitute

Host: Greg Jericho, Chief Economist, the Australia Institute and Centre for Future Work // @GrogsGamut

Producer: Jennifer Macey // @jennifermacey

Additional editing: Emily Perkins

Theme music: Blue Dot Sessions

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