Wealthiest 10% captured growth in company profits while most Australians watched their real wages shrink, Australia Institute finds
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A new paper from the Australia Institute shows 93% of the benefits of economic growth between 2009 and 2019 went to the top 10%, while the bottom 90% received just 7%.
The paper shows the share of economic growth going to the top 10% over that period was far higher in Australia than in other developed countries, including the US and Canada.
Continue reading…Wealthiest 10% captured growth in company profits while most Australians watched their real wages shrink, Australia Institute findsFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastA new paper from the Australia Institute shows 93% of the benefits of economic growth between 2009 and 2019 went to the top 10%, while the bottom 90% received just 7%.The paper shows the share of economic growth going to the top 10% over that period was far higher in Australia than in other developed countries, including the US and Canada. Continue reading…