Hoocoodanode? Via the excellent George Theranou at UBS:
Q1 EBA’s tick down to 2.7% a.r., suggesting still soft wages pressure Enterprise Bargaining Agreements (EBAs) for Q1-19 ticked down to 2.7%. The closed gap between new & existing agreements suggests downward pressure has eased, but the retracement of new EBAs from 3.2% in Q3-18 to 2.7% in Q1-19 is worrying, and shows a loss of momentum (or even slowing) in wages despite solid jobs growth.
It’s going to get worse before it gets better as the construction bust munches wages.
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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.
