Why wage growth could be stronger than reported

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According to Treasurer Josh Frydenberg, a ­record 300,000 Australian workers switched to better jobs over the final three months of last year chasing higher pay:

“Unlike some other countries, we are seeing a ‘great reshuffle’ rather than a ‘great resignation’”…

“A stronger and more dynamic jobs market leads to increased productivity and wages. Switching jobs allows workers to move up the job ladder for better pay.”

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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.