Australia's seasonally adjusted wage price index increased by 3.1% yoy in Q3 of 2022, accelerating from a 2.6% gain in Q2, above market forecasts of 3.0%. This was the highest reading since Q1 of 2013, amid further improvement in business conditions in the wake of the COVID pandemic. Wages in the private sector quickened to 3.4%, the highest since Q4 of 2012; while those in public went up for the fifth straight quarter (2.4% vs 2.4%). In original terms, the retail trade industry recorded the highest annual growth at 4.2%, followed by rental hiring and real estate services (4.0%), wholesale trade (3.8%), financials and insurance services (3.7%), manufacturing (3.6%), media & telecommunications (3.5%), other services (3.5%), construction (3.4%), utilities (2.9%), transport, postal and warehousing (2.5%), and education (2.2%). source: Australian Bureau of Statistics
Wage Growth in Australia averaged 3.06 percent from 1998 until 2022, 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 February of 2023.
Wage Growth in Australia is expected to be 4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Annual Change in Hourly Rates of Pay is projected to trend around 3.50 percent in 2024 and 2.50 percent in 2025, according to our econometric models.