Pessimists rule as wage growth stays slow

15 November, 2017, 12:01 | Author: Regina Silva

The Bank has expressed confidence on a number of occasions that wage growth would improve, but that confidence will be tested by the weakness apparent in these numbers.

Economists had forecast a 0.7 per cent bump for the quarter and an annual rate of 2.2 per cent.

Public-sector wages rose 0.5% in the quarter and rose 2.4% from a year earlier.

Workers in the accommodation and food services industries had the highest quarterly rise of 1.7 per cent, while mining company employees saw their pay packets inch up by just 0.2 per cent, according to Australian Bureau of Statistics data released on Wednesday.

The Australian dollar plunged after the figures were released, diving as low as 75.77 U.S. cents at 1306 AEDT, after trading at 76.29 USA cents just before the release.

Flipkart's awkwardly-named Billion Capture+ is now up for sale in India
Connectivity options on the smartphone includes a USB Type-C port that also supports an unspecified Quick Charge standard. The cheaper variant of the 'Billion Capture Plus' is priced at Rs 10,999 and comes with 3 GB RAM and 32 GB storage.


India, Philippines ink four pacts, resolve to fight terrorism
Trade ties between India and Asean are on an upswing and both sides want to further boost trade and investment cooperation. Prime Minister Modi also talked about shared values and common destiny between India and ASEAN.


Myanmar Military Exoneration of Rohingya Crimes is 'Laughable,' 'Pathetic': HRW
In the past week, some 1,200 people crossed over on such flimsy rafts, according to police. Reported by Khin Khin Ei, and Win Ko Ko Latt for RFA's Myanmar Service.


For a central bank expecting a gradual lift in wage pressures to help boost household consumption, GDP growth and inflation in the years ahead, this is a concerning result for the Reserve Bank of Australia (RBA), especially given how strong employment growth has been this year.

Wages have lagged the recovery in the Australian labour market.

The bulk of wage growth came from the public sector, which grew by 2.4 per cent over the past year.

Wage growth was highest in Victoria, Queensland and Tasmania at 2.2 per cent. Unsurprisingly, given its ongoing economic problems, Western Australia recorded the slowest wage growth nationally at 1.3 per cent.

The Australian wage growth is expected to creep higher over the coming years as spare capacity in the labour market is gradually being eroded, job insecurity has fallen, and businesses are reporting some pockets of difficulty in finding suitable labour, ANZ Research reported.

Recommended:

  • Nandi Awards: Mohanlal wins best supporting actor award for Janatha Garage!

    Nandi Awards: Mohanlal wins best supporting actor award for Janatha Garage!

    The awards jury members met Andhra Pradesh Chief minister Chandrababu Naidu in Amravati to handed over the victor list. In 2015, Bahubali swept 15 awards leaving very little space for other films and individuals to win any other awards.

    'No indication' Saudi coalition reopening Yemen ports

    In March 2015, the Saudi-led coalition of mostly Persian Gulf countries launched airstrikes against the Houthis at Hadi's request. However, Mr McGoldrick said there was "no indication" yet of the blockade being lifted.

    How Does Morgan Stanley (MS) Stack Up Right Now?

    Finally, Oppenheimer Holdings, Inc. reaffirmed a "hold" rating on shares of Morgan Stanley in a report on Tuesday, October 17th. Morgan Stanley (MS) is an interesting player in the Financial space, with a focus on Investment Brokerage - National.
  • Are Manchester United considering Marco Silva to be Jose Mourinho's successor?

    Are Manchester United considering Marco Silva to be Jose Mourinho's successor?

    The article explains that Mou has put in a request for a midfielder as a result of Paul Pogba's ongoing injury problems. Manchester United are, reportedly, the latest club to have Watford boss Marco Silva in their sights.
    Active shooter training held at Wausau church after mass shootings

    Active shooter training held at Wausau church after mass shootings

    He adds; his sense of Texan pride makes it hard for him to be far away from home during the aftermath of the shooting . Mark Collins, a previous pastor at First Baptist, said it was the largest gathering in the church's 100-year history.
    Election Commission asks Gujarat BJP to drop 'Pappu' from advertisement

    Election Commission asks Gujarat BJP to drop 'Pappu' from advertisement

    The poll watchdog said that word "Pappu", apparently targeting Congress vice president Rahul Gandhi , is "derogatory". The poll-bound state has immensely indulged in political controversy with Pappu word in campaign script.
  • Volume: A Tool to Project Future Performance - Duke Realty Corporation (NYSE: DRE)

    BidaskClub upgraded CoreSite Realty Corporation from a hold rating to a buy rating in a research report on Thursday, August 17th. South Dakota Investment Council increased Mckesson Corp (NYSE:MCK) stake by 59,190 shares to 68,290 valued at $11.24M in 2017Q2.
    Volvo pulls its ads from Hannity after Moore coverage

    Volvo pulls its ads from Hannity after Moore coverage

    By pulling their ads from Hannity's show, Volvo is sending the message that they do not want conservative drivers. On Saturday , Keurig announced on Twitter that it would no longer advertise on Hannity's show.

    China sending envoy to North Korea after Trump's Beijing visit

    Song Tao, the head of Beijing's International Department, will head to the North on Friday, Xinhua news agency said. Mr Kim has never visited China, and Mr Xi has not visited North Korea since he became president.
  • Hulu's 'The Handmaid's Tale' gets 2018 return date

    Hulu's 'The Handmaid's Tale' gets 2018 return date

    It will have a total of 13 episodes, which is three more than the multiple Emmy-winning first season. The news was revealed by Hulu via the official The Handmaid's Tale Twitter channel.
    Olly Murs and Melanie Skyes are dating

    Olly Murs and Melanie Skyes are dating

    A showbiz source revealed last night: "Mel loves a younger man and really fell for Olly when he got into shape late a year ago ". They went on to explain that the showbiz pair had been texting for a while, before it became "saucy".

    Magnitude 5.5 quake jolts South Korea

    Residents in Pohang city just 5.6 miles from the epicentre of the quake were told to evacuate. South Korea has relatively little seismic activity, compared with Japan to the east.


Popular

Weather Agency: Magnitude 5.4 Earthquake Hits North Gyeongsang Province
An natural disaster of 5.4 magnitude struck an area in southeast South Korea, the country's weather agency said on Wednesday. According to local TV footage, some of the buildings saw external wall damaged and window broken.

10-year-old unlocks his mum's iPhone with Face ID
According to Macrumors , the younger Malik was consistently able to unlock his mother's iPhone X without any failure. Reports says that the boy was able to unlock the phone because he picked up the phone for the first time.

Short Interest in Callon Petroleum Company (CPE) Decreases By 7.1%
D E Shaw And holds 0% in Callon Petroleum Company (NYSE: CPE ) or 135,185 shares. 291,018 are held by Nationwide Fund Advsr. KeyBanc Capital Markets maintained Callon Petroleum Company (NYSE: CPE ) on Monday, September 18 with "Buy" rating.

Court reserves verdict on Nawaz, Maryam's appearance exemption plea
She informed the judge that the appeared before the NAB Lahore team on August 18 this year and provided the required documents. His counsel stated that Nawaz's pleader, Zafir Khan, will appear on the former premier's behalf during his absence.

Exxon Mobil Corporation (XOM) Shares Bought by Garland Capital Management Inc
Following the sale, the vice president now directly owns 231,572 shares in the company, valued at approximately $18,470,182.72. TheStreet upgraded shares of Exxon Mobil Corporation from a "c" rating to a "b-" rating in a report on Friday, October 27th.

Same-sex marriage bill introduced to Parliament
Senator Brandis added that the amendment was not, nor was there, a government position on the matter. Should the vote go that way, Smith is prepared to introduce his marriage equality bill immediately.

Airbus in $40bn deal to sell 430 A320s to USA firm
To put it in perspective, a single airline with 430 planes would rank among the 10 largest carriers on the planet. It will also allow Airbus to overtake Boeing, with a total of 718 orders against its American rival's 605.

Day Buzzers -- Gilead Sciences, Inc. (NASDAQ:GILD)
Nebraska-based Cwm Llc has invested 0.3% in Gilead Sciences, Inc . (NASDAQ: GILD ). 938,419 are owned by Cincinnati. Wg Shaheen And Associate Dba Whitney And stated it has 39,465 shares or 0.92% of all its holdings. (NASDAQ: GILD ).

Media companies hit with bribery claims at Federation Internationale de Football Association corruption trial
The companies, which were not charged by USA prosecutors in the case, did not immediately respond to requests for comment. After Qatar came up short in the first rounds of voting, Grondona and Teixeira cornered Leoz in a restroom, Burzaco said.

PH, New Zealand forge ties on education
Ardern also praised Romeo Udanga whom she said did a "phenomenal job" during last year's election in New Zealand. Duterte, in response, told Ardern that this was the first time he has heard of the news.