, by Alan Kohler. Underemployment has been rising steadily for 40 years and is now the highest it has ever been. And it’s a global trend — not confined to Australia. This is why real wages are now falling, which is to say that average wage growth is below the rate of inflation (1.9 per cent versus 2.1 per cent). … The economics profession is struggling to account for this, and officialdom isn’t even trying. … Automation is creating a steady tide of unemployment: Here’s a guess about what’s going on: in thousands of ways, every day, technology and […]
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