From the early 1990s till the end of the mining boom in 2010, Australia had a dream run of economic prosperity.
Inflation was low, unemployment remained below six per cent, and the economy kept out of recession, even during the Global Financial Crisis.
It was a rising tide that lifted all boats - including the incomes of most workers.
But over the past couple of years, that wages tide has gone out, with major implications for living standards and the Federal Budget.
That's the conclusion of a new report out this morning from the progressive think tank Per Capita.
Executive Director of Per Capita
Sheryle Bagwell, Business Editor