wage stagnation monetary policy

The Coalition's wage stagnation policy has delivered yet again, with wages growth failing to shift in the March quarter. The seasonally adjusted Wage Price Index rose just 0.5%, according to the Australian Bureau of Statistics; for the third quarter in a row, annual growth stalled at 2.3%, making a mockery of government and Reserve Bank claims of a gradual recovery in wages growth.

For once, private sector workers did better than public servants, with public wages growth at 0.4% compared to 0.5% for everyone else.