My comments are not to be taken as trading advice, not a financial advisor
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Real wage growth is now 'years away', as the bushfires and coronavirus fears cut into Australian pay packets
Surprising no one, the latest ABS data shows wages are growing by just 2.2% year on year, and a paltry 0.5% this quarter. These were in part dragged down by Australia’s bushfire crisis and the ongoing outbreak of the Wuhan virus, which has hampered spending and key sectors like tourism. “There are potentially some very early signs of the impact of the bushfires and more recently the coronavirus outbreak, with wages in the accommodation and food services sector increasing by just 0.2% quarter on quarter [making them] the weakest of all sectors,” Sarah Hunter, chief economist at BIS Oxford Economics said in a ... (full story)