COVID-19 restrictions spark a record fall in workers’ pay

Original article by Patrick Commins
The Australian – Page: 4 : 12-Jun-20

Wages growth fell by 0.7 per cent in the year to June, according to the Melbourne Institute’s latest monthly survey of workers. It is the first time there has been negative growth in pay since the early 2000s. Sam Tsiaplias of the Melbourne Institute notes that wages growth has been subdued for some years, and the economic impact of the pandemic is likely to put more downward pressure on wages. The latest data from the Australian Bureau of Statistics, which predates the coronavirus lockdown, shows that its wage price index rose by 2.1 per cent in the year to March.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIAN BUREAU OF STATISTICS

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