A long, grinding income recession for Australians

Thursday 20 August 2026

Australians have been subjected to a long, grinding income recession.

The latest OECD data showed that Australia experienced the softest real per capita household disposable income growth in the 11 years to the March 2026 quarter among English-speaking nations tracked by the OECD.

Australia’s 6.0% growth in real per capita household disposable income over 11 years lagged the 6.1% growth recorded in the UK, the 9.0% growth recorded in Canada, and the standout 22.6% growth recorded in the United States.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.