Australian workers' wages have continued to stagnate below long-term growth rates and, if anything, have slowed signs of further weakness, with average pay packets rising just 2.2 per cent over the year.
In seasonally adjusted terms, wages rose by 0.5 per cent in the September quarter, down from 0.6 per cent in the June quarter, and taking year-on-year growth down from the 2.3 per cent recorded in the last figures. Wage growth continues to be mired well below the long term average of 3.2 per cent, a level not seen since late in 2012.
"The rate of annual wage growth eased slightly in September after being stable over the past year, continuing to grow at a slightly faster rate than consumer prices over the past year," Australian Bureau of Statistics chief economist Bruce Hockman said. "The largest contribution to wage growth over the quarter was jobs in the health care and social assistance industry."The results are particularly disappointing as the September quarter numbers generally reflect new enterprise bargaining agreements as well as the Fair Work Commission's annual wage review.
CPI and record low interest rates are good to compensate.....At present its good while the world is presently going at a mad pace.
But keep mass importing people and that’s the result you’ll always get.
jeff_kennett was wrong when he said ' the fat man to become fatter so that the thin man can become fatter'. It's actually the wrong way around, if the skiny have no disposable income then the fat man loses weight'. TrickleUPeconomics101
low or no wage growth means one thing. SkyNewsAust
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No longer the 12th man ... Australia's economic standing slipsPerspective: Australia slips down global economic rankings as policy makers look for ways to get the country, and wages, growing faster | swrighteconomy swrighteconomy Shouldn’t have LEGISLATED max wage increase of 1%. GUILLARD started it ABBOTT followed suit... swrighteconomy 'Policy Makers' = Oppositional-Defiant Imbeciles swrighteconomy What has past governments labor or liberal done to keep jobs in Australia and keep moving this agenda by the UN 🤔
Source: smh - 🏆 6. / 80 Read more »
Nine lowers earnings forecasts after decline in TV advertising revenueNine Entertainment shares have dropped by more than seven per cent after the media network flagged a lower first-half result on a decline in capital city free-to-air TV advertising.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
'It's an ongoing debacle': Drought money taken away from Moira Shire — againOn again, off again; after being told it was getting a grant, Moira Shire once again misses out on a drought grant. let them eat coal .....thoughts and prayers More just awful stuff from our ABC 😪😪. So now it's labors fault? I guess on that basis the drought is also labors fault. WTF
Source: abcnews - 🏆 5. / 83 Read more »
Banking sector exposed by 'increasing mortgage stress' | Sky News AustraliaA slowing economy and stagnant wage growth are exposing the banking sector to greater risk according to Analogica’s Mike Newman.\n\n Mr Newman said record low interest rates and stubborn high property prices is increasing Australians mortgage stress, which has ‘significant’ implications for the banking sector.\n\nInternational ratings agency Moody's this year revealed Australia’s mortgage delinquency rate was at its highest level in at least five years.\n\nMr Newman told Sky News the banking sector is exposed when Australians cannot fund their mortgage.\n\n“Even by the RBA admission we are not going to get any more wage increases by 2020,” he said. “If house prices keep going up and wages are not going up then clearly, you are moving towards a higher amount of mortgage stress.”\n\nMr Newman said a weakening global environment means it is “the worst time” to put additional regulation on the baking sector. Slowing? Let it slow! When it slows, prices drop and I expand my portfolio! BabyBoomer and proud. Brb, going for a nap. Slowing economy? Wasn't it strong 5 months and 3 rate cuts ago 😂 😂 😂 Liberal lies 🤣🤣🤣🤣
Source: SkyNewsAust - 🏆 7. / 78 Read more »
The world’s largest online shopping event kicks offIt’s the world’s largest online retail event that made one retailer $19 billion in one hour. But most Aussies haven’t heard of Singles’ Day. RemembranceDay Perhaps we have our own culture
Source: newscomauHQ - 🏆 9. / 77 Read more »
'A really long night': Crews keep up bushfire fight as fresh winds 'worsen things dramatically'May God be with them !!!!! The greens have a lot of questions to answer!!! Why did they let this get so far out of hand Australia wants answers!!!
Source: SBSNews - 🏆 3. / 89 Read more »