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A record 85% of Australian businesses report staff shortages, according to the NAB quarterly business survey:
Yet business groups are pushing back hard against wage rises:
Employer groups said continuing uncertainty created by Covid-19 was making it difficult to pass on higher wages. With firms struggling to plan for the future amid a still-unfolding pandemic, they said pay rises without productivity improvements would come at the expense of jobs.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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