The latest ABS wage price index revealed that private sector wage growth collapsed to only 1.2% in the September quarter versus 1.8% growth across the public sector:
Data from the federal Attorney-General’s Department shows that the average pay rise in new private sector enterprise agreements (EA) was 3% in the June quarter, beating 2.2% growth in new public sector EA agreements in 2020:
Whereas private sector wage growth for EAs in force as at June 2020 was 2.7% versus 2.5% across the private sector:
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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.
