JOIN LABOR'S CULTURE OF IDEAS

The Liberals’ Economy in three charts

Jobs and Growth? Not so much.

Every three months the National Accounts are published and tell us what’s happening in the economy. Mr Turnbull and the Liberals were quick to claim the credit for economic growth. But what are the facts?

Well, it turns out, there’s a bit more going on than Malcolm Turnbull wants us to know. So here’s three charts that say we need a different economic plan.

1

Wages growth is the real guarantee that your life gets better. We need productive businesses so that wages can rise.

graph-02-03

2

Look closer at private business investment. The story is pretty simple: it was going up before the Liberals and Nationals took over in 2013, and it’s been going down since.

graph-02-02

3

The bottom line for any strong economy is good, well-paying jobs. But unemployment has been higher under the Liberals, even without a global financial crisis.

graph-02-01

 

Some people might be winning but middle and working class families are missing out.
Yes, the economy is growing — because of exports, mostly — but can this luck last?

The answer is in what’s happening in the indicators that matter — things like wages, private business investment, jobs, living standards.

All those things are going bad.

If take home pay, business investment and job creation are all going wrong, not much is going right. Even recent strength in export growth is largely due to investment decisions of the past.

The Liberals and the Nationals like to say they’re better at managing the economy.

The truth is, if you want someone to make the economy work for middle and working class families you need a Labor Government.

About Michael Cooney

Michael Cooney

Michael is a former Executive Director of the Chifley Research Centre. He was previously Speechwriter to Prime Minister the Hon Julia Gillard MP, Senior Adviser at the HR Coombs Policy Forum, Crawford School of Public Policy at the Australian National University, and was Principal Policy Advisor to Federal Labor Leaders Kim Beazley and Mark Latham.

  • BECOME A FINANCIAL
    CONTRIBUTOR click to Donate

    The Chifley Research Centre relies on contributions from individuals and organisations to fund our operations, events and research. Without your donations, nothing we do would be possible.

  • Ben Hugosson

    Benedict Hugosson is an Organisational Ombudsman for the Swedish Social Democrats, focusing on training and membership development. Benedict has experience

    Cameron Clyne

    Cameron Clyne is the former CEO of National Australia Bank and now chairman of advisory firm Camel Partners and a

    Carol Johnson

    Professor Carol Johnson - Carol is an Adjunct Professor of Politics at the University of Adelaide and has written extensively

    Catherine King

    Catherine King is the Shadow Minister for Infrastructure, Transport and Regional Development.

    Cilla DeLacy

    Cilla has 20 years’ experience in public policy and corporate strategy across the water, land use planning and environmental management

    David Coats

    David Coats is in Australia as a Visitor at the Chifley Research Centre. He is a research fellow at the

    Gabrielle Kuiper

    Dr Gabrielle Kuiper has a background in science, sustainability and urban planning. She was previously Senior Adviser, Climate Change, Energy

    Emma Maiden

    Emma Maiden is the former Assistant Secretary of Unions NSW. She is currently Head of Advocacy for Uniting, leading their

    Erin Watt

    Erin Watt is the National Secretary of the Labor Environment Action Network. Erin is a National Political Coordinator for United

    Jim Chalmers

    Jim Chalmers MP is Shadow Treasurer, and the federal Labor Member for Rankin. Prior to his election he was

    Jo-anne Schofield

    Jo-anne Schofield is the National President of United Workers Union.

    Linda Tirado

    Linda Tirado is a completely average American. She also has good rants about how much it sucks to be poor

    Lindy Edwards

    Dr Lindy Edwards is the Associate Head of School in the School of Humanities and Social Sciences at the University

    Terri Butler

    Terri Butler is the Shadow Minister for the Environment and Water, and the federal Labor Member for Griffith, Queensland.

    Tim Kennedy

    Tim Kennedy is national secretary of the United Workers Union, organising for secure jobs and a fair Australia.


    Website design and development by cartercarter.com.au