Average pay rates among small to medium-sized businesses have increased off the back of the tightest labour market in decades, according to new data.
Average pay rates among small businesses have grown by more than 4 per cent this year off the back of the tightest labour market in decades, according to new research.
“We’ve seen a lot of change in industry engagement – people moving from hospitality and retail into knowledge work – and if that means we’ve seen some senior roles with high salaries terminated through resignation and moving from one sector to another, then that could definitely affect the average rate of pay,” Mr Thompson said.
Asked how they would deal with this year’s minimum wage increase of up to 5.2 per cent, about 24 per cent of 500 respondents said they would “have to review prices” and 16 per cent said they would need to work more hours.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Where Australia’s richest tradies liveA new report has revealed Melbourne tradies are pocketing a whopping average hourly wage of $124, making them the seventh highest paid construction workers in the entire world.
Read more »
ANZ announces $5 billion Suncorp Bank takeoverSuncorp accepts a $4.9 billion bid from ANZ to take over its banking business, as the big four bank seeks to accelerate its growth.
Read more »
WordPress rival raises $500,000 in seed fundingStart-up accelerator Startmate, Boson Ventures and Junkee Media co-founder Tim Duggan are all investing in this publishing newcomer that can help create a media company in one day.
Read more »
Explainer: Are workers getting their fair share of profits?Comparing total profits and wages over the past two decades reveals a stark divergence between the two, particularly since 2016. But the gap between profits and wages is not quite the full story.
Read more »
NSW records 'three times' more flu cases than any other Australian stateThe number of influenza cases confirmed by a laboratory has soared above the five-year average since mid-April.
Read more »
NSW records 'three times' more flu cases than any other Australian stateThe number of influenza cases confirmed by a laboratory has soared above the five-year average since mid-April.
Read more »