Aspects of Australian and U.S. Living Standards: The Disappointing Decades 1970-1990
Robert Gregory ()
The Economic Record, 1993, vol. 69, issue 204, 61-76
One theme documents the parallel U.S. and Australian histories of real wages, employment, and unemployment since 1950 and notes the break in relativities in the mid 1970s which began with a 30 percent Australian real wage increase relative to the United States. Since then, Australian real wages have remained constant, unemployment increased fourfold, and the male full-time employment-population ratio has fallen 25 percent. The other theme relates to the widening dispersion of male real wages, the large job loss from the middle of the earnings distribution, and rapid employment growth at low earnings. Copyright 1993 by The Economic Society of Australia.
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