Mr Mckellar said it was important to consider how the current conditions affected different types of businesses when it came to wage growth in the broader marketplace.
“Clearly, for those businesses that are doing well, then obviously, this is the time when we will see some increased pressure on wage outcomes and that should happen in the marketplace, and it is happening,” he said.
“If we look at things like the wage price index, which is showing growth of 2.4%, I don’t think that’s necessarily representative of what’s happening in the broader marketplace.
“We had National Accounts data last week. It showed that total compensation for labour, if you are including bonuses and other factors, all the payments that people are getting, that’s gone up 5.5%. That’s much closer to what we’re seeing in terms of the inflation outcome.”
There was also a disconnect when it came to what was happening across small business in particular and medium-sized business, in comparison to the big end of town, according to Mr McKellar.
“There are many small businesses that have really been struggling and now they’re trying to get back on their feet,” he said.
“They’ve done everything they can to maintain jobs and employment over the past two years. And we start the recovery process now with unemployment at 3.9%.”
In its recent submission, the ACCI has stressed the need for genuine caution and moderation in awarding any increase in the minimum and award minimum wages.
The ACCI has backed a 3% increase in the minimum wage to find the right balance, taking into account the full range of risks and uncertainties facing the Australian economy, workers and businesses.
The FWC is set to make a decision this month on a wage rise for the nation's lowest-paid workers.