The June quarter Business Indicators report was released by the ABS yesterday, which includes aggregate wages & salaries data, namely “gross earnings before taxation and other deductions” and “includes provisions for employee entitlements”.
As expected, aggregate wages and salaries crashed into negative in Q2, diving by 3.3% over the quarter – the biggest quarterly decline in the series’ history (since 2001):
Annual wages and salaries growth also fell by 1.1% in the year to June, not yet matching the decline experienced during the Global Financial Crisis (-1.6%):
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