Labour costs have fallen for the second successive quarter to leave an annual decline of 1.2% in trend terms, while productivity has continued to rise, according to ABS national accounts data released today.
Academics, employers and unions have roundly criticised the ABS's decision not to review occupational classifications used to keep pace with new and emerging jobs in the digital era, warning it undermines their ability to plan for the workforce of the future.
Real non-farm unit labour costs have retreated after three successive quarters of growth, while productivity in the market sector has seen a modest spike to arrest consecutive quarterly falls, according to ABS national accounts data released today.
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RBA Governor Philip Lowe's jawboning on wages is yet to have an effect, with the ABS confirming today that growth in private sector rates of pay remains in the doldrums and is now in lockstep with cost of living increases.
Real non-farm unit labour costs have grown strongly in trend terms for the second quarter in a row, while gross value added per hour worked in the market sector has now increased for 26 of the past 27 quarters, according to ABS national accounts data released today.