falling well short of Reserve Bank and federal Treasury expectations and pointing to a sluggish jobs market.
Annual wage growth has slipped to its slowest rate in more than a year and is increasingly distant from Reserve Bank and federal Treasury forecasts.Private sector wages grew by 0.5 per cent in the quarter, the third successive quarter at that rate. Annual growth is now at 2.1 per cent.Public sector wages lifted by 0.5 per cent in the quarter for annual growth of 2.5 per cent.
"The largest contribution to wage growth over the quarter was jobs in the health care and social assistance industry."
Not only growth but those hidden increases and taxes secretly applied by local and state governments reducing our buying power. It stinks.
It is government policy to keep wages low. They admitted it. So why the surprise in the statistics?
Except ScoMo's hard working staff
Not only wage growth but the actions of multinationms underpaying staff Add to that State and Local governments increasing fees and fines. Unapproved by us. Sewer types.
LNP gov has flooded the jobs market with 1 mil temps 400k foreign students +backpackers so wages have been squeezed We get too many cheap workers fr poor countries like China They r contractors in units n Filipinos
BUT Australia has the highest minimum wage in the world.
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