Member Login
Business welcomes continued wages growth
21 Feb 2018 | Archive
ABS seasonally adjusted quarterly figures for wage growth released today show a rise of 0.6% in the December quarter, continuing the moderate wages growth over the past two years.
CEO of the Australian Chamber James Pearson said the results are “encouraging”.
“It’s early stages but this could be the start of a gradual pick-up following recent strong jobs growth,” he said.
“While there is still significant slack in the labour market that needs to be taken up, largely from high rates of underutilisation, over time we think this will improve.
“If the economy continues to improve, if profit growth can be sustained and jobs growth remains strong, if we see a sustained lift in productivity – then wage growth will lift.
“That’s still a lot of ‘ifs’ but todays’ result gives us greater confidence in that view. Policy makers can support the trend by taking urgent action to reduce energy costs, cut taxes and implement other polices to help the country grow and remain competitive. “