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Australians expect the weaker economy to limit wage growth over the coming year, Melbourne Institute research revealed yesterday.
According to the Institute, surveyed employees expect pay to grow by just 2.5 per cent in the coming 12 months.
Dr Edda Claus, a research fellow with the Institute, said “modest wage expectations are consistent with a slowing economy”.
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The wages report also showed that total pay rose 4.2 per cent in the 12 months to February, compared to 4.9 per cent in August 2008 and 7.5 per cent in May of last year.
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