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09-Nov-07 11:10 [Asia Pacific]
Aussie public sector pay growth nears 5% Public sector pay growth in Australia is closing in on the five per cent mark, it has emerged.
Growth in public sector average annualised wage has reached 4.9 per cent, while private sector pay growth is running somewhat behind at 4.1 per cent, the Age reports.
Both sectors hit these figures following 0.6 per cent growth each over the June quarter.
These figures released by the Department of Employment and Workplace Relations show that inflation has not slowed despite rising interest rates, with the Reserve Bank of Australia raising rates 0.25 per cent this week to 6.75 per cent.
The publication notes that the Reserve Bank of Australia was monitoring wage growth in an attempt to ensure that it does not rise above 4.5 per cent.
In recent news, IT professionals in the country are so highly sought after that they can earn 123 per cent more than other employees, Computerworld.com.au reports.
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