Are we stuck in a 'new normal' of low wages growth? | Greg Jericho

Labour market flexibility has kept wages growth down while demand was weak, but it remains to be seen whether it will push up wages when demand returns

Figures released on Wednesday by the Australian Bureau of Statistics show that wages grew by a record low amount in the past year - just 2.27% for private and public workers together. For workers in the private sector alone, wages grew by just 2.20% - another record that continues the poor run of below-average growth.

The annual growth of 2.27% dipped low enough to just break the old record set in the March quarter of 2.29%. It now means wages growth has been below average for two and half years, with little sign of turning:

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