Economy

Jun 15, 2018

Tapering jobs growth kills wage growth hopes

The peak of the jobs boom is behind us. If wages haven't started growing strongly by now, they're hardly likely to do so in coming months.

Bernard Keane — Politics editor

Bernard Keane

Politics editor

reserve bank

After yesterday's jobs figures, it's clear that any wages growth for most workers is way off in the future, even if we accept the rather silly arguments advanced by the "just around the corner" mob.

The argument from the government is that we just need to wait a little longer and the strong jobs growth we've seen will finally push wages growth up. Only problem is, that strong growth has definitely peaked and is falling away. It's still solid growth, welcome growth -- but well down on what we enjoyed in 2017.

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