Wage growth tipped to crash as job market struggles

Original article by Shane Wright
The Sydney Morning Herald – Page: Online : 24-Jun-20

ANZ Bank economists Catherine Birch and Bansi Madhavani forecast that Australia’s nominal wage growth will slow to a record low of just 0.7 per cent in the first half of 2021. They warn that wages growth could fall to around zero during some quarters, and note that Australia had lower growth in wages than the US and New Zealand prior to the onset of the coronavirus pandemic. Birch and Madhavani add that the unemployment rate is artificially low due to the JobKeeper wage subsidy scheme.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

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