Mining wage

AFR’s Ronald Mizen thwarts falling wage stats

One of AFRs resident business accomplices, Ronald Mizen, argue the record profits made by mining companies in recent years have skewed the debate about wages versus profits.

Mizen claims that when mining is removed from total profits, non-mining profits have fallen from around 22% of total factor income in the early 2000s to around 18% in 2022, which contradicts union suggestions according to where wages do not follow benefits:

Gianni La Cava, director of research at the e61 Institute and a 20-year veteran of Reserve Bank research, suggested that simplistic wage-to-benefit comparisons were of no use for serious debate.