Australia’s employers expect wages to grow faster than inflation in 2024, survey finds

8 months ago 22

Report says workers can expect to earn 3.7% more by the end of the year, up from 2.6% annual growth expected three months ago

Demand for labour is expected to hold up well in 2024, with wages growing faster than inflation and fewer organisations planning to cut jobs in the March quarter, according to a survey of human resources professionals.

Workers can expect wages excluding bonuses to increase 3.7% in the 12 months to January 2025, the Australian Human Resources Institute’s March outlook report found. The survey, which tallied more than 600 responses, was sharply higher than the 2.6% increase expected for the year to October 2024 in a poll three months ago.

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