Australian wage growth came in flat and well below inflation which means real wages are still going backwards.
Couple that with so many jobs being part time, more people becoming under employed and you have the makings of a big problem in Australia. Remember that about 70% of GDP comes from the people spending.
Coles earnings fall, adding to Wesfarmers' Bunnings UK woes
Patrick Hatch
Coles' sales growth slowed and its earnings went backwards in the latest half, compounding woes for parent company Wesfarmers, which has seen its profit plunge 86 per cent because of its disastrous hardware expansion into the northern hemisphere.
The retail conglomerate on Tuesday reported net profit of $212 million for the six months to December 31, down from $1.57 billion for
