So annoying. The ABC says average weekly earnings are $2000. This 2K figure is based on the CSC Full-time Earnings. The reality is the median income is closer to $800 per week (abs 2021 census). Why do we only count people working full time when we discuss income? It's so misleading.
If sharp increases in interest rates aren't the right tool to control inflation, what is? The experience of the 1980s provides an idea.
They are separate statistics that measure different things. There are actually 4 different measures of AWE, each with it's own utility. It would be bad to tie wages to median income. AWE is used for Child Support, Social Security, Tax and HECS. www.aph.gov.au/About_Parlia...
Australian earnings data: a quick guide
The (deliberately? 🤔) confusing methods of describing 'income' in Australia is *precisely* why I wrote the below piece earlier this year. michaelwest.com.au/stage-3-tax-...
PM Albanese has announced that the previous government's stage 3 tax cuts need to be revised to give cost-of-living relief to average earners
Why do we only count people working full time when we discuss income? Because the intention is to mislead, not inform.