Australia’s wage growth slows to a crawl // Motley Fool Australia

The economic fallout from the COVID-19 pandemic isn’t limited to zero-bound interest rates, ballooning government debt, and cratering share prices for ASX travel and leisure shares.

Australia’s unemployment rate has risen too, despite many jobs being spared by the government’s JobKeeper program.

Data from the Australian Bureau of Statistics (ABS) revealed that the unemployment rate in September, the latest month available, increased to 6.9%. Meanwhile the labour participation rate, people who are working or actively seeking work, fell to 64.8%. The underemployment rate – people who are working but would like to work more hours – also increased to 11.4%

And Australians who are working aren’t likely to have seen much, or…