Australia’s jobless rate is only 3.4% – so what’s holding wage growth back?

That the tight labour market isn't leading to real earnings rises is proof of a deep structural weakness', says one economist

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Workers desperate for a pay rise anywhere close to the rate of inflation won't take much solace from the flurry of labour market figures released this week.

On Wednesday, the Australian Bureau of Statistics reported another disappointing increase in the wage price index with the June quarter rise of 2.6% lagging consumer price gains of 6.1% by a record amount.