The pandemic and runaway inflation reversed more than a decade of progress on living standards in just two years – and it’s going to be a long wait for them to inch back, says Greg Jericho.

What does the latest data reveal about Australian living standards? Why is there so much fearmongering about a wages breakout? And did the government hit the mark in the budget? On this episode, Greg Jericho discusses living standards, wages growth and this week’s federal budget.

Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. Each week on Dollars & Sense, Greg dives into the latest economic figures to explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.

australiainstitute.org.au // @theausinstitute

Host: Greg Jericho, Chief Economist, the Australia Institute and Centre for Future Work // @GrogsGamut

Producer: Jennifer Macey // @jennifermacey

Theme music: Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.