In times like these, it pays to be a public servant

Thursday 13 August 2020

While Australians across the private sector are losing jobs at an alarming rate, they are also suffering the biggest cuts in wages.

Yesterday’s wage price index from the Australian Bureau of Statistics (ABS) showed wage growth in the private sector plummeting to a record low 0.1% in the June quarter, versus 0.6% growth across the public sector:

In the year to June 2020, private sector wages grew by a record low 1.7%, well below the public sector’s 2.1%:

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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.