Australia’s SMB wage growth cooling overall, but 18–24 year-olds are the only age group gaining jobs in June, says latest Employment Hero analysisWhy your 18-24 year-old staff just became your most expensive hireAustralia’s SMB wage growth cooling overall, but 18–24 year-olds are the only age group gaining jobs in June, says latest Employment Hero analysisHere’s something that might catch you off-guard if you’re running a small business in Australia right now: your 18–24 year-old staff have just become your most expensive hire, at least in percentage terms. New data from Employment Hero shows workers aged 18–24 recorded the strongest wage growth nationally in June. Many employers likely moved to lift younger workers’ pay before Australia’s mandatory minimum wage increase kicked in on July 1. But the cooling in overall SMB wage growth means you should be strategic, not reactive, about hiring and pay decisions. But if you’ve got reasonable retention, the slower overall wage growth environment might give you some breathing room on costs.