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Australian wage growth is still going nowhere
Australian wage growth decelerated unexpectedly in the December quarter last year. According to the Australian Bureau of Statistics (ABS), hourly wage growth excluding bonuses grew by 0.5% in the three months to December, coming in below the 0.6% pace expected. The increase left growth over the year at 2.3%, unchanged from the level reported in the previous quarter. The annual rate was in line with market expectations. Private sector wages rose by 2.3% over the year, the fastest increase in four years. However, that was still below the 2.5% lift seen in public sector wages. Without adjustments for seasonal patterns, ... (full story)
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Wage Price Index, Australia, Dec 2018
table • The trend and seasonally adjusted indexes for Australia rose 0.5% in the December quarter 2018. • In seasonally adjusted terms, both the Private and Public sector wage price indexes rose 0.6%. • The highest index rise at an industry level (in original terms) was recorded in Financial and insurance services (0.9%) and the lowest in Accommodation and food services (0.1%). ANNUAL CHANGE (DEC QTR 2017 TO DEC QTR 2018) • The trend and seasonally adjusted indexes for Australia both rose 2.3% through the year to the December quarter 2018. • In original terms, rises through the year to December quarter ... (full story)
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