Reserve Bank boss calls for pay rises

Reserve Bank governor Philip Lowe.

Reserve Bank governor Philip Lowe has called on workers to start demanding pay rises.

Lowe said on June 19 Australia’s economy is suffering a “crisis” in wage growth and the relatively low unemployment rate means workers should start asking for a larger share of the nation’s economic pie.

His call comes as data shows the share of national income going to workers has fallen to a 50 year low and the underemployment rate, where workers want to work more hours, rose to 8.8%.

Underemployment has now risen for the past six consecutive quarters.

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