Why Australian salary flattening before pandemic struck? WATCH NOW!

  • May 13, 2020 AEST
  • Team Kalkine

Stockland says enquiries to its residential communities have recovered to pre-COVID-19 levels but its future outlook remains uncertain. Australia's largest residential developer said on Wednesday that its sales offices are fully operational in Western Australia, NSW and Queensland over the last week with the easing of government restrictions.

Overseas arrivals to Australia collapsed in April after the country imposed travel restrictions to prevent the spread of coronavirus. There were just 7,000 overseas visitors in April, down 99 per cent from a year ago, preliminary data from the Australian Bureau of Statistics shows. Of the total 22,000 arrivals in April, more than two thirds were Australian citizens returning from overseas while around 7,000 were non-Australian citizens. Australia first barred entry for foreign nationals travelling from mainland China on February 1 in a bid to stem the spread of the coronavirus pandemic.

Australian salaries were flatlining even before the pandemic struck. Wages expanded by just 0.5 per cent in the March quarter, as they have for the past four quarters, according to figures released by the Australian Bureau of Statistics on Wednesday. This saw seasonally adjusted annual wage growth slow to 2.1 per cent, from 2.4 per cent a year ago. Public sector wages grew at a slightly faster rate than private sector ones, at 0.5 per cent compared to 0.4 per cent.

#australia #salarychallenge

 


Disclaimer
The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

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