Profits and wages are rising — but it depends on which industry you're in

Both workers and business owners saw an increase in earnings last quarter, although the results varied greatly depending on which industry they were in.Accommodation and food services, mining and transport were the strongest sectorsThe Bureau of Statistics December quarter data on profits and wages, which feeds into the economic growth figures to be released on Wednesday, shows both growing at 0.8 per cent, seasonally adjusted.

"Wage incomes up 0.8 per cent in the period were relatively consistent with hours worked, which rose by 0.4 per cent in the quarter," Mr Hanlan wrote in a note on the data. Analysts at UBS said this result was reflected in the corporate reporting season for the half-year to December 31 that just ended last week, with resources companies expected to continue leading profit growth this year.

However, by far the weakest sector for profits was financial and insurance services, where company earnings slumped 26.6 per cent, seasonally adjusted, although wages and salaries rose 2.4 per cent.

Yeah, if you are in the industry of profits, your profits are rising. But if you are in wages...

So in every sector wages went backwards wrt inflation?

Profits are rising but wages aren't

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Industry calls for Morrison to go further on climate policyThe Australian Industry Group also says the plan is not “a comprehensive or permanent approach” to climate action. He’s not listening. Prime Muppet ScottMorrisonMP doesn’t know how to. PaulineHansonOz ScottMorrisonMP PeterDutton_MP corybernardi AuConservatives fraser_anning He’s doesn’t need a policy because he doesn’t recognise climate change 🤔
La source: theage - 🏆 8. / 77 Lire la suite »

Migrant cut could force RBA to reduce rates, warns housing industryThe housing industry has warned a cut in migrant numbers could force the Reserve Bank into slicing interest rates to prop up a struggling property market | swrighteconomy swrighteconomy Migration is being cut drastically right now. I predict this June will be the lowest intake of permanent residents in the last 10 years. swrighteconomy Australia CANNOT keep 'importing' more consumers, who will become MORE old age pensioners, to create MORE demand, in a never ending cycle of MORE! That is stupidity compounded! Services HAVE NOT kept pace! Water, food, medical... Kicking the can down the road, politician style. swrighteconomy So we we are captured by vested interest and ridiculous policy coming of the mining boom, borrowed money to stimulate an economy on household debt.
La source: smh - 🏆 6. / 80 Lire la suite »