Why YOU are set to finally get a decent pay rise this year as unemployment falls to the lowest level since 1974
Australian workers are set to finally get a decent pay rise during the coming year as unemployment falls to the lowest level since 1974 – and stays there.
Wage rises have been stuck below the long-term average of three per cent since mid-2013 but that is set to change as employers struggle to recruit staff.
The Treasury Budget papers are forecasting the wage price index hitting 3.25 per cent in the 2022-23 financial year, marking a big improvement on last year’s paltry 2.3 per cent increase.
Pay growth was tipped to climb to 3.5 per cent in the 2024-25 financial year and stay elevated into the first half of 2026.