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Australian wage growth remained soft in the June quarter of 2021, according to new data released today by the Australian Bureau of Statistics (ABS).
Total wages grew by only 0.44% in the June quarter, missing analyst’s expectations of 0.6% growth. Private sector wages grew by 0.52% over the quarter, whereas public sector wages grew by only 0.36%.
Overall wages grew by only 1.71% in the 2020-21 financial year, up from the March quarter’s 1.49% and the all-time low of 1.36% recorded in the year to September 2020.
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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.
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