'Air of panic' sees consumer confidence plunge as wage growth stalls

Wages are growing at their slowest pace in 22 years as the coronavirus impact on the labour market spreads to pay rates.Private sector wages have borne the brunt of the wage slowdown

Wages growth has declined to an annual pace of just 1.8 per cent, from 2.4 per cent in March — the slowest pace since records began in 1997. "The rise of the informal sector has increased Australia's wages sensitivity to economic cycles and so an extreme economic event now produces a more extreme wage outcome," Westpac economist Justin Smirk said.The Bureau of Statistics data is for the June quarter .

The data was collected in mid-May so it has captured the impact of the initial virus outbreak and lockdown on wages, but not the impact of Victoria's recent stage 4 restrictions.

Interesting isn't it..... Ita takes over, and the ABC becomes a tabloid

The panic the ABC is spreading gleefully you mean.

ABC News - OMG it's terrible out there! We have no good news! You're doomed! COVID will get you! Hide in your homes! Don't do anything anymore! Fearporn! Fearporn! Also ABC News - Huh, waddaya know, no confidence and an air of panic. Top work there, folks.

Have you folks ever actually taken a breath & thought about, ummmm, not constantly day in day out adding to the “air of panic”

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