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Monday’s June quarter Business Indicators release from the ABS, which feeds into today’s national accounts, showed that wages & salaries remain wildly divergent from business profits.
As shown in the next chart, real business gross operating profits continued to boom in the year to June:
Whereas, there remained a huge gulf between wages & salaries:
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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.