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Australian wage growth remained near record low levels in the December quarter of 2020, according to new data released today by the Australian Bureau of Statistics (ABS).
Overall wages grew by only 1.42% in the 2020 calendar year, marginally above the September quarter’s all-time low of 1.36% recorded in the year to September.
The private sector recorded wage growth of only 1.36% in calendar year 2020, whereas the public service recorded 1.61% wage growth over the year (see next chart).
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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.