Australia's seasonally adjusted wage price index rose by 2.2 percent year-on-year in the third quarter of 2019, compared to market expectations and the June's quarter figure of a 2.3 percent gain. This was the weakest rise in wage prices since the second quarter last year, with wages in the public and private sectors increasing by 2.2 percent and 2.5 percent, respectively. In original terms, annual wages growth ranged from 1.7 percent for information media and telecommunication services to 3.2 percent for health care and social assistance. Victoria recorded the highest through the year growth of 2.8 percent while Western Australia recorded the lowest of 1.6 percent for the fifth consecutive quarter. On a quarterly basis, wages advanced 0.5 percent in the September quarter, in line with forecasts. 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. source: Australian Bureau of Statistics
Wage Growth in Australia is expected to be 2.20 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 2.40 in 12 months time. In the long-term, the Australia Annual Change in Hourly Rates of Pay is projected to trend around 2.30 percent in 2020, according to our econometric models.