Wages growth up

May 18, 2023 1:12 am in by

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Tasmania has experienced the equal highest wages growth of 4.1 percent in the 12 months to the end of March.

The latest report from the ABS finds wages increased in Tasmania and Western Australia, the most in the nation for the 12 months to the end of March.

The ABS estimated annual national inflation was 7 per cent. It was 6.9 per cent for Hobart, the best available measure for Tasmania.

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Australia’s hottest wages growth sectors for the 12 months were Professional, Scientific and Technical services, Admin and support, Health Care and Education and Training.

The question is now how rising wages will impact inflation and therefore interest rates, which the Reserve Bank of Australia has foreshadowed could rise again in June.

The central bank has forecast wages to rise between 3.5 to 4 per cent per year without sending inflation on an upward trajectory.