Wages stall at record low of 1.9 per cent

Original article by Eryk Bagshaw
The Age – Page: 11 : 17-Aug-17

Data from the Australian Bureau of Statistics shows that there was overall wage growth of 0.5 per cent in the June quarter, and 1.9 per cent in the year to June. Private sector wages grew by 1.8 per cent in the year to June, although there was 2.5 per cent growth in public sector wages. ABS chief economist Bruce Hockman says underemployment partially contributed to the low growth in wages. The May 2016 Budget had forecast wage growth of 2.5 per cent in 2016-17.

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AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, CAPITAL ECONOMICS LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD

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