Wage report has “possible implications” for RBA

19 May 2021

 

Summary: March quarter wage growth repeats December quarter rise; annual growth rate ticks up; wage growth picking up, “possible implications” for RBA policy; private sector wages increase by 1.4% over year, public sector up by 1.5%; “marked turnaround” in private sector; lower ABS underutilisation rate implies higher wage growth in 2021.   After unemployment increased and wage growth slowed during the GFC, a resources investment boom prompted a temporary recovery...

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