Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 29-Jan-18
Leading economists Chris Richardson and Saul Eslake say a number of factors suggest that Australian wages will begin to rise after 18 months of stagnant growth. They cite factors such as strong growth in jobs during 2017 and a growing shortage of skilled labour. Eslake also notes that real net national disposable income per capita is now increasing at a faster pace than real gross domestic product per capita. He adds that while wages growth appears to have bottomed, the official unemployment rate of 5.5 per cent will need to fall before there is sustained growth in wages.
DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S FINANCIAL SERVICES LLC, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET