Wage growth is higher in Australia. Could this regulatory fix help Kiwi workers catch up?

Getty Images If it feels like you’re sliding backwards as the cost of living rises, you’re probably right. Recent Stats NZ data shows that in the year to June, New Zealand salary and wage rates grew by just 2%, less than half the 4.1% increase in inflation. The trend has been happening since COVID, and it means incomes are effectively reducing. In Australia the situation is more favourable, with the difference between wage growth and inflation much narrower, according to the Australian Bureau…