The unemployed rate of Australia is expected to remain low, while those looking for new work will probably get a boost for their wage packages.
Work figures for May, which will be released on Thursday, are tipped to show that the unemployment rate is steady with 4.1 percent.
Economists predict that around 20,000 new jobs were added to the economy for the month of May, after a bumper increase of 89,000 in April.
With the participation rate of the labor force also to remain unchanged with 67.1 percent, the Australian Bureau of Statistics figures are ready to demonstrate a tightening of the job market.
Salaries rise in the month of May, data appears
According to a report from the online job site search, stated salaries has increased by 3.6 percent to May to May.
The advertised salary index of the site showed that the growth of wage rates for new positions has remained stable in the past year.
But the monthly growth in May was only 0.2 percent, the smallest increase of one month since October.
Search senior economist Blair Chapman said that the increase in the advertised wages was a welcome increase.
“The growth of the average advertised salaries is currently exceeding the costs of living, which is good news for those who change employers because they probably get a real wage increase,” he said.
“This means that they can buy more goods and services or save part of their extra income.”
‘Real wages grow again’
Treasurer Jim Chalmers said that lowering unemployment levels was also accompanied by a decrease in inflation.
“No major advanced economy has combined unemployment in the Lage 4S with inflation under 2.5 and three years of continuous growth,” he said in an address in the National Press Club on Wednesday.
“We know that this welcome progress in the national aggregated data does not always translate into how people feel and do in local communities. But real wages grow again.”
Chalmers has marked the potential tax reform during his second term in the role, which will be investigated for a productivity stop that will be held in Canberra in August.
“This is all about testing the hunger of the country.
“I am willing to do my bit, the government is willing to do its bit, and what we will discover in the course of the coming months is whether everyone is also willing to do their bit.”
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