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Australian real wages are tracking 6.1% below their mid-2022 ‘covid-bubble’ peak. The latest RBA Statement of Monetary Policy (SoMP) also forecast that real wages will remain 5.5% below their peak at the end of 2027.
SEEK’s latest advertised salaries index suggested that Australian wage growth is slowing.
Advertised salary growth rose by only 0.2% in July. This marked the first time that advertised salary growth was below 0.3% in two consecutive months since 2021.
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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.