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.

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.


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.


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.


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:

  • Flipkart's awkwardly-named Billion Capture+ is now up for sale in India

    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.
    Airbus in $40bn deal to sell 430 A320s to USA  firm

    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.

    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.
  • 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.
    Cone Midstream Partners LP (CNNX) Investment Decreased by Oppenheimerfunds, Inc

    Cone Midstream Partners LP (CNNX) Investment Decreased by Oppenheimerfunds, Inc

    Looking at some alternate time periods, the 12 month price index is 1.01978, the 24 month is 1.49009, and the 36 month is 1.42585. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings.
    Day Buzzers -- Gilead Sciences, Inc. (NASDAQ:GILD)

    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 ).
  • Zimbabwe crisis: Soldiers 'take over broadcaster ZBC'

    Zimbabwe crisis: Soldiers 'take over broadcaster ZBC'

    The veteran of the country's 1970s liberation war was popular with the military and had been seen as a likely successor to Mugabe. Zimbabwe's envoy to South Africa , Isaac Moyo, also dismissed talks of a coup, saying the government was "intact", the BBC said.
    NK military preparing for winter training: S. Korea

    NK military preparing for winter training: S. Korea

    It's the same border area which was visited by US Secretary of Defense James Mattis less than a month ago. Command helicopter later transported him to the Ajou medical center, according to South Korean officials.
    Papa John's flips the bird to neo-Nazis in fiery statement on Twitter

    Papa John's flips the bird to neo-Nazis in fiery statement on Twitter

    "That definitely was not our intention", Papa John's wrote. "The controversy is polarizing the customer, polarizing the country". Despite the pizza chain's efforts Tuesday to address the criticism over those remarks, some social media users weren't convinced.
  • Watch the unboxing of the new T-Mobile REVVL Plus

    Watch the unboxing of the new T-Mobile REVVL Plus

    To remind you, T-Mobile Revvl, which was launched in August this year, is now sold for $6 down and $6 per month with EIP. The T-Mobile Revvl Plus will remain a carrier exclusive device to the said carrier, and carries a price tag of $200.
    Rothschild Investment Corp IL Takes Position in Salesforce.com Inc (CRM)

    Rothschild Investment Corp IL Takes Position in Salesforce.com Inc (CRM)

    Salesforce.com, inc.'s sales for the past 5 years rolls at 29.90%, exhibiting an EPS growth from quarter-to-quarter at -92.60%. Inc. now owns 3,163 shares of the CRM provider's stock worth $274,000 after buying an additional 18 shares during the period.
    India, Philippines ink four pacts, resolve to fight terrorism

    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.


Popular

Atletico Madrid hopes to replace Saul Niguez with Arsenal star Mesut Özil
Ozil's future has been a huge talking point for a number of months, with the German having so far refused to sign a new deal at the Emirates.

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.

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.

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.

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.

Analysts See $0.13 EPS for Brocade Communications Systems, Inc
Millennium Ltd Liability Com reported 0.05% stake. (NASDAQ:BNCL) has "Hold" rating given on Monday, April 25 by Sandler O'Neill. Gideon Capital Advsrs reported 0.24% of its portfolio in Brocade Communications Systems, Inc . (NASDAQ:BRCD) for 31,000 shares.

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.

'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.

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.

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.