Australians are taking home larger pays than this time last year according to new Australian Bureau of Statistics figures that show a 4.2 per cent increase in wages over the year to September.
Citigroup economists say the increase is not a cause for concern with regard to interest rates as wages would need to rise by more than 4.5 per cent for the RBA to take immediate action.
The HSBC is also positive about the news saying the figures prove wage pressures are under control even though the economy is booming and the labour market is tight.
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