Wages hopes have been hosed by new Enterprise Bargaining Agreements data:
The average annualised wage increase (AAWI) for federal enterprise agreements approved in the September quarter 2017 was 2.2 per cent, down from 2.6 per cent in the June quarter 2017 and down from 3.4 per cent in the September quarter 2016 – see Note 1 at the end of this summary.
The 2.2 per cent AAWI result is based on the 77.5 per cent of agreements approved in the September quarter 2017, covering 60.2 per cent of employees, which contained quantifiable wage increases – see Non-quantifiable agreements section and Note 2 at the end of this Summary.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
