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Labour market in ‘remarkably tight position’ as wage growth rises

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The labour market has been in a “remarkably tight position for the better part of eight or nine months now”, according to Oxford Economics Head of Macroeconomic Forecasting Sean Langcake.

“It’s been hovering around three and a half unemployment rate,” Mr Langcake told Sky News Business Editor Ross Greenwood.

“We’re at a point with the labour market where it’s generating wage growth that’s faster than what will generate an inflationary consistent with the RBA’S target.

 

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