Persistent high levels of demand for workers in Australia has put pressure on wages to rise, but Australians will still be taking a pay cut in real wages. The National Skills Commission revealed that job advertisements rose by 3.6 percent, or 9,300, in February to a total of 269,700. It was driven by New South Wales (NSW) and Victoria, both with over 3,000 new job advertisements, followed by Queensland and South Australia. This increased competition for workers has put upward pressure on wages, with the latest wages growth figures hitting 2.3 percent. However, despite an acceleration in wages growth of 0.7 percent in December 2021, wages are still far below inflation, which is currently at 3.5 percent and expected to hit 4.5 percent as the ongoing conflict in Ukraine continues to place pressure on oil prices. Reserve Bank of Australia Governor Philip Lowe told the Walkley Foundation on March 22 …