Wages rising at slowest pace ever

Cash money Photo:Barry Leddicoat / Sunshine Coast Daily
Cash money Photo:Barry Leddicoat / Sunshine Coast Daily Barry Leddicoat

FIGURES from the Bureau of Statistics show Australian wages are rising at their slowest pace since records began.

Wages rose by 0.5% in the March quarter, putting the annual rate of increase at 2.3%.

That is the slowest rate since the bureau started collecting the data in the September quarter of 1997.

JP Morgan economist Tom Kennedy told the ABC the annual rate of wage growth had slowed in 10 of the past 11 quarters.

"Most of the drag came from the private sector," he said.

Topics:  abs money wages

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Kingaroy police investigating wallet theft

The intruder fired a shot at the resident, who suffered minor injuries.

Phone Crime Stoppers if you have any information

Store expands to new Nanango location

With weekly sewing classes Alisellou Designs is set to be a community hub for crafty locals.

One stop sewing shop celebrates grand opening.

Flasher charged with drink driving

Woman will appear in court on April 9

Local Partners