Australian employees proceed to go backwards on the wages entrance, with progress of simply 2.6% within the 12 months to June, in comparison with inflation of 6.1%.

Australian employees’ actual wages fell by 3.5% within the 12 months to June, regardless of a small improve in wages progress within the June quarter.
The June Wage Value Index knowledge launched this morning by the Australian Bureau of Statistics confirmed wages excluding bonuses grew within the June quarter by 0.7% — the identical degree as within the March quarter, additional undermining claims {that a} tight labour market means accelerating wages progress.
The outcome introduced progress for the 2021-22 12 months to 2.6%, up from 2.4% for the 12 months to March — however 2.6% was achieved solely as a result of the June 2021 results of simply 0.4% fell out of the annual determine. That compares with inflation of 6.1% for the 2021-22 12 months. Within the June quarter alone, actual wages fell by 1.1%.