Business
Wages growth slows, consumer confidence plummets amid coronavirus outbreak – ABC News
Wage growth slows to its lowest level in 22 years and consumer confidence slumps back to April levels amid Victoria’s lockdown and coronavirus outbreaks elsewhere.
Wages are growing at their slowest pace in 22 years as the coronavirus impact on the labour market spreads to pay rates.
Key points:
- Wages increased just 1.8 per cent over the year to June 30
- Private sector wages have borne the brunt of the wage slowdown
- Consumer confidence has collapsed again, after the Victorian Government imposed stage 4 restrictions on Melbourne
Wages growth has declined to an annual pace of just 1.8 per cent, from 2.4 per cent in March …
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