Enterprise bargaining agreements show some wages life

Via the Department of Jobs:

So, new agreements showing some life at last. Existing agreements continue to fall. I’m not sure why given new agreements have been rising for a year. Perhaps it is CPI linkage which has been falling.

It’s not hard to find where the boom is. Bureaucrats!

The private sector has lifted much less but is still doing better:

Some wages hope amid a spectacular fiscal boom. Although the impact will likely be modest:

Was reported today that EBA’s rose to 3.2%yoy – which is good news – but from what I understand this covers only 132,000 employees, whereas current EBA’s covering 1.9million people are still at 2.7%yoy a historical low…(total labour force is 13.4mn) #ausbiz pic.twitter.com/lV1fKMSaa9

— Alex Joiner (@IFM_Economist) December 20, 2018

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.