Businesses are delivering the strongest rate of wages growth in more than decade, as the national private sector wages bill rose by 3.6 per cent in 2022, compared to 2.5 per cent in the public sector, according to data released today by the Australian Bureau of Statistics (ABS).
Employment Minister Tony Burke does not believe wages growth is about to further fuel inflation, saying pay rates have suffered a decade of stagnation.
The Fair Work Commission's decision to increase the minimum wage by 5.2 per cent was the correct one, despite concerns raised by business groups, the prime minister says.
