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

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