Wages 'expected to rise by 50 per cent of people'

By Mozo ·

A recent study revealed that half of those polled as part of the Westpac-Melbourne Institute Consumer Sentiment survey think their base wage is likely to rise over the coming year, those with debit cards may be interested to learn.

One-third of the respondents believe that their wages would rise by up to four per cent, while the proportion of those expecting no change remained steady at 44 per cent.

However, while half thought they would receive a boost to their pay packets next year, the proportion was still four percentage points lower than that seen during the last study.

Matthew Hassan, senior economist at Westpac, commented: "Overall, the wage outlook shows another aspect of the sombre consumer mood but carries a 'silver lining' in that it also points to a benign environment for wage pressures."

He added that wage growth looks set to be "well anchored", suggesting that it may even moderate in the future.

According to figures from the Australian Bureau of Statistics, the average weekly ordinary time earnings for adult full-time employees rose by 1.2 per cent in the three months to May 2011.

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