Signs are positive for Aussie wage growth

Monday, 24 January 2022

Last week’s labour force data for December, released by the ABS, posted the lowest unemployment rate in Australia (4.2%) since August 2008 just prior to the Global Financial Crisis:

The nation’s underemployment rate also fell to 6.6%, which is the lowest rate since November 2008:

Combined, Australia’s labour force underutilisation rate fell to 10.8% in December, which was also the lowest rate since November 2008.

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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.