Real wages going absolutely nowhere

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By Leith van Onselen

As noted earlier, figures released today by the ABS revealed that annual wages growth fell to the slowest pace on record (1997) in the June quarter, clocking it at only 2.27% (seasonally-adjusted and trend) over the year:

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The news was also bad when adjusted for underlying (core) inflation, with annual wages growth falling to -0.03% in the year to June in trend terms:

ScreenHunter_8834 Aug. 12 13.41
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ScreenHunter_8833 Aug. 12 13.41

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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.