Original article by Michael Roddan, Ewin Hannan
The Australian Financial Review – Page: 9 : 16-May-19
Official data shows that wages grew by 0.5 per cent in the March quarter and 2.3 per cent in the year to March. George Tharenou of UBS says the rate of growth in wages is not sufficient to put upward pressure on inflation. Marcel Thieliant of Capital Economics says wages growth should have been higher given that the unemployment rate fell to an eight-year low in the quarter and the under-utilisation rate has fallen one per cent over the last year. ACTU secretary Sally McManus says Australia has recorded its lowest rate of wages growth since World War II under the Coalition.
UBS HOLDINGS PTY LTD, CAPITAL ECONOMICS LIMITED, ACTU, AUSTRALIAN BUREAU OF STATISTICS, JP MORGAN AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY