Is this as good as it gets for Australian wages?

In his latest employment forecast report, Deloitte Access Economics partner, David Rumbens, said that “although pockets of employment growth are still likely, recent indicators suggest that broader economic weakness is finally creeping into the labour market, meaning there may be less opportunity for workers to negotiate on pay and conditions that have helped many households navigate inflationary pressures”.

Rumbens’ warning makes sense given a range of indicators.

First, Australia’s labour supply is growing at a record pace because of the federal government’s mass immigration policy.