The outlook for Australian pay growth is poor, but three major industries face a shortage of people and are most likely to see wage growth (Daily Mail).
According to the Daily Mail, the outlook for Australian wage growth is not expected to be good, but statistics from the Australian Bureau of Statistics (Australian Bureau of Statistics) indicate that there are three major industries facing a shortage of staff and are most likely to see wage growth. Those who are looking for a job in the New year may wish to use it as a reference.
In a recent speech, Ellis (Luci Ellis), assistant president of (RBA), the Australian savings bank, said most Australians would have to wait as soon as 2020 to get a pay rise. This, he argues, is the result of overstaffing in the labour market, where employers lose the real incentive to raise wages when unemployment is high.
But this is not the case in all sectors, some of which face a shortage of staff and must raise wages as soon as possible to attract more workers.
The sectors most likely to see wage growth include healthcare, education and finance, according to the Australian Bureau of Statistics. Lower wage growth opportunities include mining and transportation.
The bank`s forecasts suggest that most Australians will have to wait a while to get a pay increase.
Overall, unemployment will fall in most sectors over the next few years, while labor shortages will become apparent, which will be a boon for wage growth.
It is reported that at the beginning of this year, the salary survey of Walters (Robert Walters), a human resources company, predicted that the demand for personnel in Australia`s three major industries, namely, health care, infrastructure construction, and data analysis, will increase. As a result, employees in these industries will receive the most visible wage increases in 2018. In addition, machine learning and artificial intelligence industries also have good prospects for salary increases.
