Why Aussie companies are loving coronavirus

Monday 7 December 2020

Last week’s national accounts revealed why it has been a wonderful recession for Australia’s companies.

While aggregate employee compensation rose by a mere 1.5% in the year to September 2020, company profits boomed by 14.4%:

In fact, over the four years from September 2016, aggregate employee compensation rose by only 16% versus a whopping 58% growth in aggregate company profits:

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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.