Australian wage growth plummets

The Australian Bureau of Statistics (ABS) has just released its Labor Price Index for the September quarter of 2019, which revealed falling wage growth:

According to the ABS, wages grew by just 0.53% (both s.a. and trend) in the September quarter. Private sector wages grew by 0.53% (both s.a. and trend) over the quarter, whereas public sector wages grew by 0.52% (s.a. ) and 0.59% (trend).

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