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MNI BRIEF: Aussie Wages Grow 0.9% Q/Q

(MNI) Melbourne

Australian wages grew 0.9% q/q over Q4 2023 in line with expectations, and 4.2% y/y, up 10bp over estimates, according to the Australian Bureau of Statistics.

“For both the public and private sector, wages growth was driven by organisation-wide annual wage and salary reviews,” noted Michelle Marquardt, head of prices statistics at the ABS, noting Q4 growth saw a higher contribution from jobs covered by enterprise agreements than typical.

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Australian wages grew 0.9% q/q over Q4 2023 in line with expectations, and 4.2% y/y, up 10bp over estimates, according to the Australian Bureau of Statistics.

“For both the public and private sector, wages growth was driven by organisation-wide annual wage and salary reviews,” noted Michelle Marquardt, head of prices statistics at the ABS, noting Q4 growth saw a higher contribution from jobs covered by enterprise agreements than typical.

Keep reading...Show less