The Australian Bureau of Statistics (ABS) has just released its Labor Price Index for the September quarter of 2020, which reveals that wage growth has plunged to fresh lows:
According to the ABS, wages grew by just 0.07% in the September quarter. Private sector wages grew by only 0.08% over the quarter, whereas public sector wages grew by 0.22%.
Over the year, total wages grew by just 1.36%, with the private sector experiencing just 1.21% growth and public sector wages growing by 1.77%.
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