CANBERRA Cheap NikeLab Air Max 97 Mid Boots Triple White Rainbow UK , Sept. 29 (Xinhua) -- Australian middle-income earners have been hit hardest by stagnating wage growth, a government report has found.
The first study of its kind in Australia, released by Treasurer Scott Morrison on Thursday night, found that the decade-long wage growth slump is a nationwide problem affecting every sector.
Wage increases in the last five years have happened at half the rate they did in the preceding decade when cost of living is factored in, the report found.
Fewer than 10 percent of Australian workers have experienced wage growth of more than 4 percent Cheap Men's Nike Air Max 97 OG GS Army Green Black UK , down from 40 percent in 2,000.
"While the recent jobs growth has been great for those 800,000 Australians and their families, for 11.5 million other Australian workers it has been a long time since most of them have had a decent pay rise," Morrison told the Business Council of Australia in a speech on Thursday night.
"As we know Cheap Men's Nike Air Max 97 OG GS All Red UK , wages grew by a subdued 1.9 percent through the year to the June quarter 2017 - the slowest annual growth in at least 20 years."
Workers with a university education were among the hardest hit with their wages experiencing slower growth than those with no post-school qualifications.
"This is not a problem affecting one or two states in isolation, nor is it centred on certain industries or pay grades -- it affects those on awards, collective agreements or individual agreements alike, and ... those in regional areas as much as those in cities," Morrison said.
"The bills jammed under their fridge magnets at home Cheap Men's Nike Air Max 97 OG GS All Blue UK , in particular the ones you can't avoid like power, rent, rates or the mortgage, are not going anywhere."
The report, which was commissioned by Prime Minister Malcolm Turnbull earlier in 2017 suggested that wage growth was picking up after a 20-year slump but Morrison warned that the outlook remained bleak for most workers.
It found that wages in capital cities are 20 percent better than in rural areas but the cost of living compensated for that difference.
"The facts also debunk the populist theory that soft wages growth has been contributing to growing income inequality. It is in fact the opposite Cheap Nike Air Max 97 OG Undefeated Black UK ," Morrison said.
"As I have said on numerous occasions, unlike many other advanced economies, our tax and welfare system has protected Australians against rising inequality since the Global Financial Crisis."
Large flower terrace gleams on Tian'anmen Square in Beijing
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WASHINGTON Cheap Nike Air Max 97 OG Undefeated Olive Green UK , Oct. 2 (Xinhua) -- U.S. President Donald Trump Monday suggested reducing the U.S. trade deficit with Thailand when meeting with Thai Prime Minister Prayut Chan-o-cha at the White House.
??U.S. President Donald Trump (2nd R) greets Thai Prime Minister Prayuth Chan-ocha (2nd L) at the White House in Washington D.C., the United States, on Oct. 2, 2017. Prayuth Chan-ocha paid a visit to the United States on Monday. (XinhuaYin Bogu)
"Our relationship on trade is becoming more and more important. And it's (Thailand's) a great country to trade with," Trump told visiting Thai Prime Minister Prayut in front of reporters ahead of their bilateral talks.
"I think we're going to try and sell a little bit more to you now Cheap Nike Air Max 97 OG Undefeated White UK , make that a little bit better if that's possible," said Trump.
Statistics from the U.S. Trade Representative shows that the United States maintained an 18.9-billion-U.S. dollar's goods trade deficit with Thailand in 2016.
Over the past decade, two-way trade between Washington and Bangkok has grown by more than 36 percent, with U.S. exports to Thailand increased by more than 30 percent to 10.6 billion dollars.
Major U.S. export categories to the southeastern country include electrical machinery, machinery Cheap Men's Nike Air Max 97 Ultra Black White UK , aircraft, optical and medical instruments, and vehicles.
"We have a very strong relationship right now," said Trump.
Thailand will work closely to further strengthen the cooperation between the two countries, said Prayut.
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