Fed: Wages growth being fuelled by skills shortages: Gillard

AAP General News (Australia)
02-21-2008
Fed: Wages growth being fuelled by skills shortages: Gillard

By Colin Brinsden, Economics Correspondent

CANBERRA, Feb 21 AAP - Pay rises may be going unnoticed by many as they are gobbled
up by increased mortgage repayments, but economists say the fast pace of wages growth
is likely to push up interest rates next month.

Data released today shows the average weekly wage has risen by just over $55 in the
past year, taking the annual wage to $57,730.

Employment Minister Julia Gillard said the strength of wage growth is prominent in
both the mining and construction sectors, industries where …