Real wages are stuck in the donut zone

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By Leith van Onselen

Yesterday’s wage price data, released by the ABS, revealed that annual wages growth fell to the slowest pace on record (1997) in the September quarter, clocking it at only 2.26% (seasonally-adjusted and trend) over the year:

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The news was also somber when adjusted for underlying (core) inflation, with annual wages growth rising just 0.1% in the year to September in trend terms:

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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.