Australia's seasonally adjusted wage price index rose by 1.5 percent year-on-year in the first quarter of 2020, compared with market consensus and the previous period's record low of 1.4 percent. Still, this was the highest reading since the June quarter of 2020, amid regularly scheduled increases and improved business conditions in the wake of the COVID-19 pandemic. Private sector wage growth remained at 1.4 percent for the second quarter in a row, while the public sector recorded its lowest rate of growth (1.5 percent vs 1.6 percent) since the commencement of the series. Across industries, annual wage growth ranged from 0.4 percent for the rental, hiring, and real estate services industry to 2.2 percent for the education and training. On a quarterly basis, the wage price index advanced 0.6 percent in the March quarter, the same as in the fourth quarter. source: Australian Bureau of Statistics
Wage Growth in Australia averaged 3.10 percent from 1998 until 2021, reaching an all time high of 4.30 percent in the second quarter of 2008 and a record low of 1.40 percent in the third quarter of 2020. This page provides - Australia Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Annual Change in Hourly Rates of Pay - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Wage Growth in Australia is expected to be 2.00 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 2.00 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 2022, according to our econometric models.