Australia's seasonally adjusted wage price index rose by 2.3 percent year-on-year in the second quarter of 2019, the same pace as in the previous period and in line with market expectations. Wages in the public sector increased by 2.6 percent, while those in the private sector grew 2.3 percent. In original terms, annual wages growth ranged from 1.7 percent for wholesale trade to 3.3 percent for health care and social assistance. Western Australia recorded the lowest annual wage growth (1.6 percent), while Victoria recorded the highest (2.9 percent). On a quarterly basis, wages advanced 0.6 percent in the June quarter, beating market forecasts of 0.5 percent. Wage Growth in Australia averaged 3.21 percent from 1998 until 2019, reaching an all time high of 4.30 percent in the second quarter of 2008 and a record low of 1.90 percent in the third quarter of 2016.
Wage Growth in Australia is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Australia to stand at 3.00 in 12 months time. In the long-term, the Australia Annual Change in Hourly Rates of Pay is projected to trend around 3.30 percent in 2020, according to our econometric models.