Wages are on the up. Good!

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The biased corporate press has a new panic to attempt to sway a losing election hand:

Businesses are reporting a surge in the cost of workers just as Labor leader Anthony Albanese backs a 5 per cent wage increase to match the high inflation rate.

National Australia Bank’s monthly business survey shows business conditions are booming, but inflationary pressures have increased sharply due to the higher cost of materials and labour.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.