“Promising sign” from March wage indices

Summary: March quarter wages grow by 0.7%, slightly below expectations; annual growth rate ticks up from 2.3% to 2.4%; promising sign of a gathering of momentum in wages; business surveys show labour costs high,  rising; private sector wages up 2.4% over year, public sector up 2.2%; ABS underutilisation rate implies higher wage growth coming. After unemployment increased and wage growth slowed during the GFC, a resources investment boom prompted a...

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