The first national accounts data to measure a full quarter of the coronavirus economic downturn confirms Australia is in recession and shows a big reduction in hours worked and real labour costs, alongside a substantial increase in productivity.
The coronavirus pandemic has cut growth in the Wage Price Index in the private sector to the lowest level in its 23-year history, the ABS has confirmed today.
Drought, bushfires and pandemic panic-buying have contributed to the highest annual consumer price inflation since 2014, according to ABS quarterly data released today.
The FWC has moved on its own initiative to introduce two weeks' unpaid "pandemic leave" for millions of award-covered workers, as the coronavirus crisis continues.
Growth in private sector rates of pay excluding bonuses remained stagnant at the end of last year, but continued to outpace inflation, according to ABS data released today.
Growth in private sector rates of pay excluding bonuses has dropped to 2.2% a year, after being locked at 2.3% for 12 months, according to ABS data released today.
The head of the ABS has warned that statistics on the labour market, the economy and population will be at risk if the agency is hit with more funding cuts.
Growth in private sector rates of pay excluding bonuses is increasing at 2.3% a year, unchanged from the annual rise recorded in the previous two quarters, according to ABS data released today.
Annual growth in private sector rates of pay excluding bonuses has hit a four-year high for the second successive quarter, rising 2.4% to March, according to ABS data released today.
Growth in private sector rates of pay excluding bonuses has edged up to 2.3% a year, the fastest annual rise in four years, according to ABS data released today.
