At the same time, most people aren't getting a big pay raise -- what you would expect to see when jobs are plentiful. U.S. wage growth is a sluggish 2.6% this year, beating subdued inflation but still way below the Federal Reserve's target of 3.5%. When people start losing their jobs, workers become more anxious and are willing to work for less. Australia is in the middle of the longest period of low wage growth since its last recession in the early 1990s. Turbulent past, uncertain futureMemories of the financial crisis and worries about the future also make business owners reluctant to raise wages.

Source: CNN November 01, 2017 13:41 UTC