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

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

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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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