Australia's seasonally adjusted wage price index rose by 2.2% yoy in Q3 2021, after a 1.7% increase in Q2, matching market estimates. This was the highest reading since Q1 2020, amid improved business conditions in the wake of the COVID-19 pandemic. Private sector wages accelerated (2.4% vs 1.9% in Q2), continuing the pattern of growth since the series low in Q3 2020. Meantime, growth in the public sector continued to track below the private sector, with this being the first rise in the annual rate since Q1 2020 (1.7% vs 1.3%). Across industries, annual wage growth in original term ranged from 1.2% for the utility sector to 3.4% for professional, scientific, and technical services. Among states and territories, Tasmania recorded the highest annual wage growth rate (2.7%) while South Australia was the lowest (1.8%). On a quarterly basis, the wage price index advanced 0.6% in Q3, accelerating from a 0.4% gain in Q2, beating consensus of 0.5%. source: Australian Bureau of Statistics
Wage Growth in Australia averaged 3.10 percent from 1998 until 2021, 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 2022.
Wage Growth in Australia is expected to be 2.30 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 2.00 percent in 2022 and 2.30 percent in 2023, according to our econometric models.