Overall, according to the ABS, company profits rose by 20% to the year ended 30 September 2017, but the only wages that are going up are the excessive bonuses for CEOs.
The NAB monthly business survey for December said that “Strong business conditions are broad-based across all major industry groups with the exception of retail.”
The business conditions index was unchanged at a strong +13 index points, which is well above the long-run average of +5 index points.
So with business conditions and profits at very high levels, and supposed jobs growth of over 400,000, we should see wages going up.
Except they are not as the following graph shows.