Industrial relations omnibus bill to drive wages lower

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New data from the federal Attorney-General’s department shows that 11.8% of workers in the private sector were covered by enterprises agreements in the September quarter. This compares with 13.5% in the previous quarter, and is the lowest coverage since 2017.

The report also shows that annual wage growth for new agreements approved in the September quarter fell:

Whereas for those agreements already in force, annual wage growth was flat:

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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.