Average earnings rocket as low-paid jobs decimated

Thursday 13 August 2020

On Wednesday, the Australian Bureau of Statistics (ABS) released its labour price index (LPI), which showed wage growth collapsing to a fresh all-time low in the June quarter, driven by the private sector:

However, yesterday the ABS also released half-yearly average weekly earnings (AWE) data for May, which showed a surge in average earnings:

Driven by the private sector:

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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.