Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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.
“Higher growth in the public sector was primarily due to newly implemented enterprise agreements for essential workers in the Health care and social assistance and Education and training industries following changes to state-based wages policies.”
The RBA wants to see wage growth soften to reflect weaker productivity growth. (See MNI: RBA To Hold Rates Despite Soft Data - Ex Staff)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.