Australia's seasonally adjusted wage price index increased by 3.1% yoy in Q3 of 2022, accelerating from a 2.6% gain in Q2, above market forecasts of 3.0%. This was the highest reading since Q1 of 2013, amid further improvement in business conditions in the wake of the COVID pandemic. Wages in the private sector quickened to 3.4%, the highest since Q4 of 2012; while those in public went up for the fifth straight quarter (2.4% vs 2.4%). In original terms, the retail trade industry recorded the highest annual growth at 4.2%, followed by rental hiring and real estate services (4.0%), wholesale trade (3.8%), financials and insurance services (3.7%), manufacturing (3.6%), media & telecommunications (3.5%), other services (3.5%), construction (3.4%), utilities (2.9%), transport, postal and warehousing (2.5%), and education (2.2%). source: Australian Bureau of Statistics

Wage Growth in Australia averaged 3.06 percent from 1998 until 2022, 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 January of 2023.

Wage Growth in Australia is expected to be 4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Annual Change in Hourly Rates of Pay is projected to trend around 3.50 percent in 2024 and 2.50 percent in 2025, according to our econometric models.

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Australia Annual Change in Hourly Rates of Pay



Calendar GMT Actual Previous Consensus TEForecast
2022-11-16 12:30 AM Wage Price Index YoY Q3 3.1% 2.6% 3% 3.2%
2022-11-16 12:30 AM Wage Price Index QoQ Q3 1% 0.8% 0.9% 1.2%
2023-02-22 12:30 AM Wage Price Index YoY Q4 3.1% 3.6%


Related Last Previous Unit Reference
Unemployment Rate 3.50 3.50 percent Dec 2022
Unemployed Persons 499.79 493.97 Thousand Dec 2022
Employed Persons 13747.08 13761.72 Thousand Dec 2022
Part Time Employment -32206.00 24991.00 Persons Dec 2022
Full Time Employment 17566.00 33279.00 Persons Dec 2022
Employment Change -14640.00 58271.00 Persons Dec 2022
Labor Force Participation Rate 66.60 66.80 percent Dec 2022
Youth Unemployment Rate 7.72 7.29 percent Nov 2022
Labour Costs 110.70 108.30 points Sep 2022
Productivity 100.10 102.30 points Sep 2022
Job Vacancies 444.20 466.90 Thousand Dec 2022
Wages 1344.70 1328.90 AUD/Week Jun 2022
Wage Growth 3.10 2.60 percent Sep 2022
Wages in Manufacturing 1464.50 1462.00 AUD/Week Jun 2022
Population 25.77 25.68 Million Dec 2021
Employment Rate 64.30 64.50 percent Dec 2022

Australia Annual Change in Hourly Rates of Pay
In Australia, wage growth measures the annual change in hourly rates of pay excluding bonuses for both public and private sector.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 2.60 4.30 1.40 1998 - 2022 percent Quarterly
2008-2009= 100; SA

News Stream
Australia Q3 Wage Growth at 9-1/2-Year High
Australia's seasonally adjusted wage price index increased by 3.1% yoy in Q3 of 2022, accelerating from a 2.6% gain in Q2, above market forecasts of 3.0%. This was the highest reading since Q1 of 2013, amid further improvement in business conditions in the wake of the COVID pandemic. Wages in the private sector quickened to 3.4%, the highest since Q4 of 2012; while those in public went up for the fifth straight quarter (2.4% vs 2.4%). In original terms, the retail trade industry recorded the highest annual growth at 4.2%, followed by rental hiring and real estate services (4.0%), wholesale trade (3.8%), financials and insurance services (3.7%), manufacturing (3.6%), media & telecommunications (3.5%), other services (3.5%), construction (3.4%), utilities (2.9%), transport, postal and warehousing (2.5%), and education (2.2%).
2022-11-16
Australia Q2 Wage Growth Highest in Near 8 Years
Australia's seasonally adjusted wage price index climbed by 2.6% yoy in Q2 2022, accelerating from a 2.4% gain in Q1, and compared to market forecasts of 2.7%. This was the highest reading since Q3 2014, amid improved business conditions in the wake of the COVID-19 pandemic. Growth in the private sector accelerated to 2.7%, the highest since Q3 2013. Meanwhile, public sector wages for the fourth straight quarter posted a rising rate of annual growth of 2.4% (vs 2.2% in Q1). Across industries, annual wage growth in the original term ranged from 2.2% for mining and utilities to 3.4% for construction industry, which recorded its highest annual rate of growth since Q4 2012. Among states and territories, Queensland reported the highest annual wage growth rate (2.9%), the steepest pace since Q1 2013, while Northern Territory was the lowest (0.4%). On a quarterly basis, the wage price index increased by 0.7% for the third consecutive quarter in Q2, below consensus of a 0.8% rise.
2022-08-17
Australia Q1 Wage Prices Rise the Most in Over 3 Years
Australia's seasonally adjusted wage price index increased by 2.4% yoy in Q1 2022, compared with market forecasts of 2.5% and after a2.3% growth in Q4 of 2021. This was the highest reading since Q4 2018, amid improved business conditions in the wake of the COVID-19 pandemic. Public sector wages for the third straight quarter recorded an increasing rate of annual growth of 2.2% (vs 2.1% in Q4). Meanwhile, growth in the private sector stood at 2.4%, the same as in Q4. Across industries, annual wage growth in the original term ranged from 1.5% for the utility sector to 3.1% for rental, hiring and real estate services industry. Among states and territories, Tasmania recorded the highest annual wage growth rate (2.8%) while Northern Territory was the lowest (1.9%). On a quarterly basis, the wage price index grew 0.7% in Q4, still the most since Q1 2014 and compared with consensus of a 0.8% rise.
2022-05-18