From 1 October the Reserve Bank removes card surcharging, so the $1.8 billion of fees Australian merchants used to pass on has to land somewhere else. Staffing fees behave the same way, and most of them are already invisible.
Private sector wages rose 1.4 percent in the June quarter while output per hour did not move. Here is what a head actually costs, itemised, with the published fees against it.
A competitor's own survey says one in three Australian businesses are losing customers because they cannot fill roles. The fee you save by hiring yourself is the smallest number in the calculation.
Multiple job holding just hit its highest rate since 1994. The labour market is not making more people, it is cutting the same ones into smaller pieces.
The Reserve Bank cuts the consumer credit interchange cap from 0.8 to 0.3 per cent on 1 October. On $1 million of credit card turnover that is $5,000 a year. One restructured role, on published market rates, is worth about seven times more.
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