Australians take a real pay cut, while rate hike pressure eases | The Business | ABC News
Wages growth eases to 3.6 per cent over the year to June, reducing fears of a so-called wage-price spiral. Most Australian workers continue to go backwards with pay packets lagging behind inflation. Real wages are now back to 2009 levels, with 14 years of gains wiped out. Economists say the data makes an interest rate rise from Reserve Bank in September look very unlikely. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-08-1... ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook: / abcnews.au Follow ABC News on Instagram: / abcnews_au Follow ABC News on Twitter: / abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia
