Advertisement
As noted earlier, figures released today by the ABS revealed that Australian wages growth fell to the slowest pace on record (1997) in the December quarter, clocking it at only 2.5% seasonally-adjusted and 2.5% trend over the year:
The news was better when adjusted for underlying inflation, however, with annual wages growing by 0.2% in the year to December in trend terms, thanks to a decline in annual underlying inflation between to September and December quarters (from 2.5% to 2.3%):
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement