How to avoid the panic as it hits: The stock market crash
A major stock market rally is approaching.
It’s the latest indicator that the Australian dollar has begun to slide.
The rally has taken place in response to the release of the Australian Bureau of Statistics (ABS) latest GDP figures which showed a rise in real wages, which have surged to $1.7 trillion in the first quarter of this year.
These are now projected to climb another $200 billion in the same period.
This is the third straight quarter of strong real wage growth.
However, the ABS report also found that the national unemployment rate fell from 7.2 per cent to 6.9 per cent.
This was an increase of 0.4 percentage points.
But, the big news is that the inflation rate has jumped to 2.7 per cent, which is the highest rate in six years.
While this is not good news, the latest report shows that this is due to a rise of 3.9 percentage points in consumer prices.
The ABS also forecast that total gross domestic product (GDP) would rise by 1.5 per cent in the year to June 2018.
This would be the biggest growth since the financial crisis.
It is also the strongest growth rate since 2007.
But there is another important story emerging from the figures.
The latest ABS figures show that Australian workers are doing much better than their counterparts in other developed economies.
The median household income (HIC) has increased by 4.3 per cent from the previous year.
This comes as the unemployment rate has dropped from 5.9 to 5.3 percent.
This indicates that Australians are more likely to be earning more than they were before the crisis.
However it is important to remember that this rise in income is not due to higher incomes being distributed more fairly.
It appears that the rise in median income has been driven by the growth in disposable income.
We know that in the United States, incomes are higher for the top 20 per cent of earners than for the bottom 20 per set.
This means that, even though the middle class is getting richer, the top 0.1 per cent have seen their incomes rise by only 0.8 per cent over the past year.
We can see this trend reflected in the headline income figure for the median household.
The top 20 earners are getting a rise worth around $1,000 per month.
This represents an increase in income of almost $1 million a year.
The bottom 20 earners have seen an increase that is only around $400 per month, which represents an average of $1 per week.
This illustrates that the median wage earners in Australia have actually seen their real incomes fall.
This has had a big impact on wages for the middle and lower classes.
For example, a median worker in Perth who earns $60,000 a year has an income of $4,000.
However in Brisbane, a worker earning $40,000 has an earnings of $2,000 more.
It has also had a significant impact on the wages of low-income earners.
This can be seen in the graph below.
In Sydney, the median worker earns $56,000, while in Melbourne, the wage is $50,000 less.
This may sound like a small difference, but the bottom 40 per cent pay about $9,000 higher in wages than the top 40 per set, who earn $80,000 each.
This trend is even more pronounced in WA, where the median workers earn $65,000 compared to $52,000 in Perth.
However the WA Government is trying to change this trend by introducing a new tax on low- and middle-income workers.
The Tax Reform Commission is proposing a tax of 0,500 per cent on incomes above $300,000 for people aged 65 and over.
This will also apply to employees who make more than $150,000 ($250,000 with a spouse) and people aged over $150 ($250) who have two or more children.
If the GST/HST is repealed, this will mean that the top 5 per cent will pay more than the bottom 5 per set in WA.
The tax will be introduced on April 1 next year.
In response, the Coalition has released a policy statement, outlining the changes that will be made to the GST and HST.
The policy statement states that the new tax will apply to income of the highest and lowest bracket and the bottom bracket and it will only apply to households earning less than $400,000 (or $120,000 if a family of four has two or three children).
However, this is far from being the end of the story.
The Government has announced that it will introduce a new levy of 1.4 per cent for income above $600,000 and 2 per cent above $1m.
This new tax is expected to increase the incomes of the top five per cent by between $300 million and $1 billion.
This brings the overall income tax rate