Wages rise very slowly
The Reserve Bank has been concerned that labour shortages will fuel an explosion in wages growth, however the latest figures show that this is yet to eventuate. During the March quarter wages rose by an average of 0.9 per cent and are up 4.1 per cent for the past year. Public sector wages in the March quarter were up 0.76 per cent and the private sector saw increases of 0.86 per cent. The largest increases have been seen amongst professionals and tradespeople, with the mining sector recording the biggest gain of 5.9 per cent over the year.
Source: The Australian