Australia Annual Change in Hourly Rates of Pay1998-2020 Data | 2021-2022 Forecast

Australia's seasonally adjusted wage price index rose by 1.4 percent year-on-year in the third quarter of 2020, slowing from a 1.8 percent gain in the previous period and compared with market forecasts of 1.5 percent. This was the weakest growth on record, reflecting the impact of COVID-19 social and continued adjustment to the economic uncertainty. Both private sector wages (1.2 percent vs 1.7 percent in Q2) and public sector wages (1.8 percent vs 2.1 percent) grew at the softest pace since series began. Across industries, annual wage growth ranged from 0.5 percent for the accommodation and food services, and administrative and support services to 2.4 percent for financial and insurance services, and education and training. On a quarterly basis, the wage price index advanced 0.1 percent, the least on record, after a 0.2 percent rise in the June quarter.

Australia's seasonally adjusted wage price index rose by 1.8 percent year-on-year in the second quarter of 2020, slowing from an upwardly revised 2.2 percent gain in the previous period and compared with market forecasts of 1.9 percent. This was the weakest growth on record, capturing the first full period of COVID-19 social and business restrictions in the country. Both private sector wages (1.7 percent vs 2.1 percent in Q1) and public sector wages (2.1 percent vs 2.4 percent) grew the least since the series began. Across industries, annual wage growth ranged from 0.8 percent for the construction industry to 2.6 percent for the arts and recreation services industry. On a quarterly basis, the wage price index advanced 0.2 percent, the least on record, after a 0.5 percent rise in the March quarter.

Australia's seasonally adjusted wage price index rose by 2.1 percent year-on-year in the first quarter of 2020, slowing from a 2.2 percent gain in the previous period and in line with forecasts. It was the weakest rise in wage prices since the second quarter of 2018, capturing the period shortly before restrictions were put in place to contain the spread of the coronavirus outbreak. Private sector wages grew 2.1 percent, the least since Q2 2018, easing from a 2.2 percent increase in the prior quarter, while public sector wages rose 2.4 percent, faster than a 2.2 percent gain. Across industries, annual wage growth ranged from 1.6 percent for the information media & telecommunication services industry to 3 percent for the health care & social assistance industry. Victoria recorded the highest through the year growth of 2.5 percent, while Western Australia recorded the lowest for the seventh straight quarter (1.8 percent). On a quarterly basis, the wage price index advanced 0.5 percent.

Australia's seasonally adjusted wage price index rose by 2.2 percent year-on-year in the last quarter of 2019, unchanged from the previous period and in line with market expectations. It remains the weakest rise in wage prices since the second quarter 2018, as public sector wages increased 2.2 percent (vs 2.5 percent in Q3), the lowest public sector growth rate since records started in 1997. Also, private sector wages grew by 2.2 percent, the same as in the previous quarter. Across industries, annual wages growth ranged from 1.6 percent for information media and telecommunication services to 3.1 percent for health care and social assistance. Victoria recorded the highest through the year growth of 2.7 percent while Western Australia recorded the lowest of 1.7 percent for the sixth consecutive quarter. On a quarterly basis, wages advanced 0.5 percent in the fourth quarter of 2019, matching forecasts.