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Annual wage growth at series low

AUSTRALIA DATA
(MNI) LONDON

AUSTRALIA Q2 WAGE PRICE INDEX +0.2% Q/Q; Q1 +0.5%

AUSTRALIA Q2 WAGE PRICE INDEX +1.8% Y/Y; Q1 +2.1

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  • "After a steady period of wage growth over the previous 12 months, wages recorded the lowest annual growth in the 27-year history of the WPI," Andrew Tomadini, Head of Price Statistics at the Australian Burea of Statistics, said:
  • "The June 2020 quarter rise was mainly in the public sector (0.6%). Private sector wage growth eased to 0.1 per cent as businesses adjusted to changes in the Australian economy."
  • in original terms, wages recorded no change in June 2020 quarter. Public sector wages growth (0.4%) offset the private sector fall (-0.1%). This was the first negative wages result in the history of the WPI. Mr Tomadini said: "The fall in private sector wages is mainly due to a number of large wage reductions across senior executive and higher paid jobs."
  • Annual wage growth to June quarter 2020 ranged from 0.8 per cent for the Construction industry to 2.6 per cent for the Arts and recreation services industry
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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