A learned sounding commenter said...
The level of the RULC index has no meaning. The RULC index is only used to show the rate (and direction) of change in labour costs.

Stable RULCs imply that the wages share of national income is stable, whereas falling RULCs imply a falling wages share*. If the real compensation of labour grows at the same pace as labour productivity, then both the wages share and RULCs will remain constant. The falling RULCs (and falling wages share) in the 2000s imply that the growth in the real compensation of labour has lagged behind productivity growth.

- yawn.

I think most of the noise at present is that the cost of doing business is comparatively expensive when compared to, say, India, China or pretty much any of our neighbours. This is true because we have a system that protects the workers through a minimum wage, as just one example.

...in short there are calls to import cheap(er) labour from overseas for project such as building infrastructure. 'Tis where the noise is coming from.

As an aside I am noticing more and more offshoring of work, and it has moved to white collar jobs.

So the ALP is good at reducing worker wages?

Nice one from what used to be the workers party. Now they just seem to represent those who collect their money from the government in one form or another.

What do all those graphs represent anyway? Basically ALP-Coalition. Two sides of the same coin. This coin may be good, it may be bad. In the end it doesn't matter if its heads or tails. To say either is trying to achieve small government is not true.

Mobydisc said...

So the ALP is good at reducing worker wages?

Nice one from what used to be the workers party. Now they just seem to represent those who collect their money from the government in one form or another.

What do all those graphs represent anyway? Basically ALP-Coalition. Two sides of the same coin. This coin may be good, it may be bad. In the end it doesn't matter if its heads or tails. To say either is trying to achieve small government is not true.

The graphs represent the total rubbish that the coalition are on about. IE "we're (the coalition) the party of small government".......NO!. "We're the government of low taxation".......no you're not!!! and "the cost of doing business in Australia is too high"........crap