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Workforce shortage increases rates pressure

Staff Reporter 1 minute read

Tight conditions in the labour market could trigger another interest rate rise.

Figures released by the Australian Bureau of Statistics show that despite the annual growth in job vacancies employers are still struggling to attract employees – particularly in the resources and construction sectors.

Commenting to The Australian Financial Review,  ANZ co-head of economics, Sally Auld said the figures highlighted the current inflation risk – supporting the view that rates will soon rise.

"If the labour market remains robust, strong incomes growth should support household cashflow [and] highlight the risk to wages,” she said.

Published 207-06-08 

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