Wages bill slumps as company profits soar

By Colin Brinsden, Aap Economics and Business Correspondent
Updated August 31 2020 - 3:46pm, first published 3:45pm
ABS data shows wages and salaries slumped by a record 3.3 per cent during the June quarter.
ABS data shows wages and salaries slumped by a record 3.3 per cent during the June quarter.

The wage bill for businesses has tumbled by a record amount during the coronavirus pandemic, even as company profits jumped by the biggest quarterly margin in four years.

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