ABS: Wages grew by one per cent final quarter, nicely beneath inflation

Australian wages have grown at lower than half the annual price of inflation, new information has revealed, with public sector employees lagging behind.

Wages rose 1 p.c over the previous three months, whereas the annual common is 3.1 p.c progress.

Whereas the quarter marks the quickest quarterly nominal wage progress price since March 2012, the patron value index, at 7.3 p.c, means actual wages are 4.2 p.c decrease over the yr and fell again to 2011 ranges.

Within the personal sector, wages grew by 1.2 p.c in the course of the quarter; whereas public sector employees elevated their pay by simply 0.6 p.c.

Throughout the yr, personal sector wage progress was 3.4 p.c in comparison with 2.4 p.c within the public sector.

The very best quarter-on-quarter and year-on-year progress was recorded within the retail sector (2.4 p.c and 4.2 p.c) resulting from two award will increase in the course of the yr.

The training and coaching trade posted the bottom quarterly (0.8 p.c) and annual (2.2 p.c) progress of all industries.

The Australian Bureau of Statistics’ Michelle Marquardt stated quarterly progress throughout all sectors was primarily pushed by wage will increase within the personal sector.

“Labor market pressures within the personal sector, mixed with the most important improve in Honest Work Fee awards in additional than a decade, elevated each the scale of common wage modifications and the proportion of personal sector jobs that noticed a wage change,” he stated .

“The typical measurement of the hourly wage improve for these jobs the place the wage price moved was 4.3 p.c, up from 2.9 p.c within the September 2021 quarter.

“Nearly half (46.4 p.c) of personal sector jobs noticed a change of their hourly wages this quarter in contrast with a couple of third (33.9 p.c) in the identical quarter final yr.”

Mrs. Marquardt stated a big contribution to wage progress this quarter got here from jobs “paid by particular person settlement.”

“These are primarily personal sector jobs the place employers have paid will increase based mostly on year-end wages and wage evaluations or interim will increase as a retention technique,” he stated.

Initially printed as ABS: Wages grew by 1 per cent final quarter, nicely beneath inflation

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