A surge in Omicron Disrupts Hopes of Wage Growth in Australia

Economists in Australia believe that Omicron will be a major hindrance to increased wages this year. They believe that the rise in the number of Omicron cases will affect the country’s economy even more. Although the labor supply has declined during the pandemic, there has been no spike in wages.

After years of salaries remaining stagnant, Economists had predicted a 2 percent increase in pays throughout Australia. However, thei....