The Australian Bureau of Statistics (the "ABS") has reported that rates of pay (excluding bonuses) in the private sector are growing at the slowest rate since the ABS began publishing the Wage Price Index in the late 1990s. The Wage Price Index for the March quarter has revealed that rates of pay grew by 2.3 percent annually in the private sector and 2.5 percent in the public sector, compared with the growth rates of 3.2 percent in the private sector that were experienced two years ago. The current figures are the lowest on record.
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