Wage growth slows, worse expected ahead

12 August 2020

 

Summary: June quarter wage growth down significantly; annual growth rate back below 2%; public sector wage increases partially offset private sector; “informal sector” bears brunt, offsets increases from enterprise agreement and award-based jobs, ABS underutilisation rate points to continued slowdown; “smaller or partially-deferred minimum wage rises, wage freezes, wage cuts” expected.   After unemployment increased and wage growth slowed during the GFC, a resources investment boom prompted a temporary recovery...

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