Aussie wages rise but jobs outlook still mixed
Australian wages rose last quarter, though mixed signals are emerging from other areas of the jobs market.
According to Australian Bureau of Statistics (ABS) figures, the index of total hourly rates of pay excluding bonuses rose 1.1 per cent in the third quarter of 2010, thereby lifting annual wage inflation from three to 3.5 per cent. Australian earners aiming to grow their incomes could choose to compare term deposits in search of the best returns.
Commenting on the data, an AAP analysis noted that wage inflation can be expected to accelerate where the demand for labour grows faster than supply. However, it added that the current ratio of these factors is not clear.
"The labour force figures last week showed a surprising rise in unemployment, to 5.4 per cent from 5.1 per cent, largely the result of a higher recorded labour force participation rate in October," observed the news network.
It also pointed to the fact that while the government's surveys of skilled job ads for this month found there was a 2.5 per cent rise in jobs advertised on the internet, newspaper ads fell one per cent in trend terms.
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