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120 labour market researchers sign an open letter calling for intervention to boost wage growth

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The letter, endorsed by economists, lawyers and labour market experts, urges policy action to support wage growth and calls arguments that higher wages would threaten economic stability puzzling and unconvincing.

An open letter signed by more than 120 labour market experts has urged policy action to boost wages growth in Australia, amid perceptions that stagnant wages are threatening the economy and increasing inequality.According to the ABS, wages rose just 0.5 per cent in the December quarter and 2.3 per cent over 2018

The letter, endorsed by 124 economists, lawyers and specialist labour market researchers, has called for the adoption of measures to raise minimum wages, strengthen collective bargaining, relax wage caps on public sector workers, tackle pay inequity and constrain the outsourcing of"normal employment responsibilities".

"The consequences of this unusually slow wage growth are many and varied, and include weaker consumer spending, greater household indebtedness and financial stress, slower growth in government revenues, and widening inequality.

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