Australia's seasonally adjusted wage price index rose by 1.7 percent year-on-year in the June quarter of 2020, after a 1.5 percent gain in the prior period and compared with market estimates of a 1.9 percent rise. This was the highest reading since the second quarter of 2020, amid improved business conditions in the wake of the COVID-19 pandemic, with private sector wage growth accelerating (1.9 percent 1.4 percent in Q1). Meantime, the public sector recorded its lowest annual rate of growth since the series commenced in 1997 (1.3 percent vs 1.5 percent). Across industries, annual wage growth ranged from 0.1 percent for the utility sector, transport, postal, health care, and social assistance to 0.6 percent for the rental, hiring, and real estate services industry. On a quarterly basis, the wage price index advanced 0.4 percent in the second quarter, one of the lowest rates recorded for the series, following two-quarters of 0.6 percent growth. 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 September 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.