Quarterly Wage Price Index (WPI) has fallen 0.1 per cent to 2.2 per cent at September quarter 2019 on the previous year according to new data from the ABS this morning.
This comes after it was revealed that wage growth in new private sector agreements fell in the June quarter and over the year.
The Morrison Government has implemented a series of policies to reduce wage growth which have crushed economic growth and forced millions of Australian workers into financial hardship.
Australians are struggling, weak consumption is being driven by stagnant wages, household debt is at record highs, 1.8 million Australians are looking for work or for more work, and retail trade has had its worst result since the 1990s recession.
The quarterly growth is also the first inclusion of the Fair Work Commission’s minimum wage increase this year of 3 per cent. If it wasn’t for unions fighting for a higher minimum wage this result would be even worse.
As stated by ACTU Secretary Sally McManus
“The Morrison Government has said they want wage growth to be low. This is their plan working.
“Millions of Australian workers are facing their eighth year without a decent pay rise because of this Government’s obsession with a failed trickle-down economic experiment.
“The Government’s proposed Ensuring Integrity Bill is intended to stymy unions and would make it harder for all workers to win pay rises, deepening this crisis.
“It is more important than ever that the Senate crossbench stand up for the rights of working people and block Ensuring Integrity.