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    Competitiveness alarm as Labor backs lift in wage floor

    Ronald Mizen
    Ronald MizenSenior reporter

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    The Albanese government will push for a minimum wage rise in line with inflation for a third straight year as the Business Council of Australia warned chief executives were struggling to compete for global investment, making it more difficult to reverse the nation’s decade of woeful productivity growth.

    The increase of about 18 per cent over three years would solidify Australia’s minimum wage as one of the highest in the OECD. Wages now make up the lion’s share of inflation due to unit labour cost growth the Reserve Bank of Australia described as “very high” and productivity slumping to 2016 levels.

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