AU Wages Timeline 1788-2020 compared with US Debt

Australia Basic Wage
Fair Work Commission   Wikipedia
State Library Victoria
US Govt Debt
US Treasury
1788 One shilling and sixpence per day$70 million
1835$33 thousand its lowest ever
1865 Farm Labourer two shillings and sixpence per day
Carpenter 10 shillings per day
$2 billion
following American Civil War
1907 Seven shillings per day or £2.2.0 per week
Basic Award to support a "man, his wife, and three children"
$2 billion
1922 £4.10.0 per week with widespread price rises following the First World War
Paper money (i.e. a promise backed by 80 tonnes in gold reserves) had become all the rage following the Australian Notes Act of 1910 enabling banknotes issued via Australian Govt Treasury and cancelling those more fallible banknotes of individual banks
$25 billion, through the enormous expenditure of First World War and the setting up of the League of Nations
1928 £4.9.6 per week$18 billion
1930 £3.1.1 per week during the Great Depression
The 6 day week became a 5½ day (44 hour) week
In 1935 the Printers Union wins one week of paid leave
Drops to $16 billion in 1930
then rapidly increases under Roosevelt's "New Deal"
1938 £4.1.0 per week$40 billion
1946 £5.0.0 per week
In 1945 the Annual Holidays Act provides two weeks of paid leave
$250 billion due to WW2, followed by the US setting up United Nations and providing help to West Germany, Japan, South Korea, other economies worldwide
1947 £7.2.0 per week
In 1948 the 5 day week introduced
 
1950 £8.2.0 per week 
1953 £11.16.0 per week with considerable inflation following the Second World War
Between 1951-1955 Qld, NSW and Victoria passed legislation granting 13 weeks long service leave to all employees with 15 years or more service, a benefit unique to Australia
 
1960 £13.16.0 per week$300 billion
1961 £14.8.0 per week
In 1963 Commonwealth Industrial Court adopts three weeks paid leave
 
1966 $32.80 (£16.8.0) per week
In 1966, the AU dollar was launched, worth 10 shillings
 
1967 $40 (£20) per week ($1.00 per hour) 
1969 $54 per week
In October 1968 the minimum hourly wage was $1.35
$350 billion

In 1971, President Nixon cancelled the fixed US dollar to gold exchange rate (since 1934 at US$35 per ounce)

Click here for our experience in Australia with Gough Whitlam's "seat of the pants" government Dec 1972 - Nov 1975. Free Universities, Free Medical, wow.

Australia Basic WageUS Govt Debt
1972 $80 per week
In 1974 four weeks paid leave plus 17½% loading
$450 billion
1976 $102 per week
Wages have tripled over 10 years through "stagflation"
$620 billion
1978 $120.80 per week $770 billion
1980 $134.80 per week
In 1983 the 38 hour week introduced
$1 trillion
1987 $178.24 per week  
1990 $214.49 per week$3 trillion
1995 $284.45 per week  
1997 $359.40 per week  
2000 $400.40 per week$6 trillion
2010 $569.90 per week$10 trillion
2020 Currently $753.80 per week, arguably the highest in the world, plus 9½% compulsory superannuation$22 going on $27 trillion
caused by COVID-19

So in 2020, $753.80 (or $150.76) per day which is 215 times the seven shillings daily wage of 1907. A fair increase in inflation over these 113 years. At that 215 fold rate of increase, and accelerating another 44 times as this was the acceleration factor over the 4.67 increase that occurred between 1780 and 1907, by 2130 we could all be earning over $1 million per day.

Not bad .

Yes, at these times, may we keep our eye on the Lord. Let our eye be single, having "dove's eyes".

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