Australia's Wage Growth Advantage: What Can NZ Learn from Down Under?

Australia's wage growth has been higher than New Zealand's in recent years. According to Stats NZ, salary and wage rates grew by just 2% in the year to June, less than half the 4.1% increase in inflation.

In contrast, Australian workers have seen a 3.2% wage growth rate in the same period, compared to 3.8% inflation.

The difference between the two countries may be due to Australia's collective bargaining regulations, which offer advantages to both workers and employers.