Australian wages. minimum wages lifted by the Fair Work Commission.
- +3% from 1 July
- about 2.3 mln employees in Australia are on the minimum wage
Inflation is circa 1.5% (official headline), so a 'real' wage boost.
To the extent it boost consumer spending its a positive.
But I guess we'll get warnings it'll weigh on jobs growth.
I'll leave it to the econometricians to work out the net impact.
