Australian full-time workers saw their average weekly wages grow at the greatest pace since August 2005 on a year-over-year basis. The 6.1% growth in pay through May substantially overshot forecasts, which called for figure to rise by only 5.3% On one hand, this startling trend may induce wage-led inflation. On the other, the data does not include the wages of part-time workers. Keep in mind that since last summer, the number of full-time positions that were lost was replaced by almost the same amount of part-time ones created. This means that since the data only represents those who are working complete shifts it does not get weighed down by the downward wage pressure generally thrust upon part-timers.
