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Company profits surge as wages fall



Official data show wages going backwards while company profits surged at the end of last year, with mining and construction leading the trend.

Bureau of Statistics business indicators data for the December quarter show a massive 20.1 per cent surge in profits over the quarter, while wages fell 0.5 per cent.

The mining sector led the profit surge, with earnings up 50 per cent on a massive rebound in commodity prices.




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