David Jacobs和Alexendra Rush的文章讨论了与过去几年澳大利亚工资增长下降相关的担忧。本文对工资增长偏低的原因问题进行了反思，并对其进行了深入的研究。
这篇文章进一步阐明了工资增长与失业之间的关系。已经查明，这些公司削减了导致失业问题的工作。据观察，在较短的时间内，这些公司对其产品和服务的需求一直很低。这对工资增长产生了影响。2012年以后，工资有较大的增长(Jacobs & Rush, 2005)。作者还使用了1998年至2012年的WPI增长图表来为工资下降提供资金。此外，他还描述了一个最重要的因素，这是基于工资调整，在最近几次工资急剧下降，导致失业率上升。
另一个原因是产品价格和与贸易有关的条款。近年来，由于市场竞争，这些公司的产品价格很低。2012年后，实际消费者工资增长非常缓慢。这导致工资增长放缓。在2012年之前，这些公司很容易承担更高的劳动力成本(Fuhrer et al.， 2009)。除此之外，ULC在各个行业的增长都有所下降。
The article by David Jacobs and Alexendra Rush discusses over the concerns related to the declination of the wage growth which has been observed in Australia over the past few years. The article reflects the reasons question related to low wage growth and have also done the indepth research over the same.
In the beginning, the article speaks about the different factors through which the low wage growth in Australia can be identified. The article discusses about the factors such as the declination of the expectation for inflation, low trade and the spare capacity in labour markets. Further the article has discussed the overall decline in the wage growth in Australia. It has been found that there is a huge decline in the wage growth in Australia. Mostly, the declination of the wage growth has occurred in the labour productivity. The article has further analysed some of the factors which may prove to be responsible for the lower wage growth in Australia.
The article has further laid down the link between the wage growth and unemployment. It has been identified that the firms have cut down the jobs leading the problem of unemployment. It has been observed that in the shorter run the firms have been experiencing the subdued demands for their goods and services. This has led to have an impact on the wage growth. After 2012, it has been observed that there is a large wage growth (Jacobs & Rush, 2005). The author has also used the WPI growth chart from 1998 to 2012 to fund the Wage decline. Further he has described about one of the most important factors which are based on the wage adjustment that in the recent times wages has sharply fallen which has led to the increase in unemployment rate.
Another factor related to the same is the inflation rate. The author has described the way that how the inflation rate has led to the low wage growth. Some of the surveys which are related to the households and unions have also given the further indication that the expected rate of inflation. It has been found that during most of the period of unemployment. There is a decline in the inflation expectations. When the wages are considered, firms may also be concerned about the prices.
Another reason is the output price and the terms related to the trade. In the recent times the firms have low output prices because of the market competition. After 2012, there is a very slow growth in the real consumer wages. This has led to the lower wage growth. Before 2012, the firms could easily afford the higher labour costs (Fuhrer et al., 2009). In addition to this, the ULC growth has been declined in each and every industry.
The real exchange rate is another specification which has led to the low wage growth. Author has tried to describe that how important is to have the balanced and a proper real exchange rate. There has been a recent declination in the ULC growth rate which has led to the improvement in the cost competitiveness in the world.