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Australia wages see record rise in Q3, unlikely to be repeated
Australian wages posted the largest increase on record last quarter as a sharp rise in minimum wages benefited millions of workers, while intense competition among employers pushed up many individual pay deals. Yet analysts noted this was largely due to a confluence of factors that were unlikely to be repeated, and markets still saw scant chance of a rate hike in response. Figures from the Australian Bureau of Statistics out on Wednesday showed its wage price index rose 1.3% in the September quarter, matching forecasts and the biggest quarterly rise in the 26-year history of the series. Annual pay growth picked up to ... (full story)