From www.aigroup.com.au: Soaring national wages, which have increased by 25.8% since the end of the pandemic, are negatively impacting non-mining business balance sheets, as sales income has only risen by 18.3%.

Innes Willox, Chief Executive of the Australian Industry Group, warns that excessive wage growth threatens the potential for private sector growth, leading to flat capital expenditure and employment levels.

He calls on governments to promote wage moderation to foster a return to economic growth.