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. 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 September of 2022.

Wage Growth in Australia is expected to be 3.00 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 2023 and 2.30 percent in 2024, according to our econometric models.

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Australia Annual Change in Hourly Rates of Pay



Calendar GMT Actual Previous Consensus TEForecast
2022-08-17 01:30 AM Wage Price Index QoQ Q2 0.7% 0.7% 0.8% 0.5%
2022-08-17 01:30 AM Wage Price Index YoY Q2 2.6% 2.4% 2.7% 2.5%
2022-11-16 12:30 AM Wage Price Index QoQ Q3 0.7%


Related Last Previous Unit Reference
Unemployment Rate 3.50 3.40 percent Aug 2022
Employed Persons 13592.09 13558.36 Thousand Aug 2022
Unemployed Persons 487.68 473.65 Thousand Aug 2022
Part Time Employment -25300.00 46000.00 Persons Aug 2022
Full Time Employment 58800.00 -86900.00 Persons Aug 2022
Employment Change 33500.00 -41000.00 Persons Aug 2022
Labor Force Participation Rate 66.60 66.40 percent Aug 2022
Youth Unemployment Rate 7.03 7.88 percent Jul 2022
Labour Costs 107.60 105.90 points Jun 2022
Productivity 102.30 104.90 points Jun 2022
Job Vacancies 480.10 423.50 Thousand Jun 2022
Wages 1344.70 1328.90 AUD/Week Jun 2022
Wages in Manufacturing 1464.50 1462.00 AUD/Week Jun 2022
Wage Growth 2.60 2.40 percent Jun 2022
Population 25.77 25.68 Million Dec 2021
Employment Rate 64.28 64.17 percent Aug 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
2.60 2.40 4.30 1.40 1998 - 2022 percent Quarterly
2008-2009= 100; SA

News Stream
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
Australia Q4 Wage Prices Rise the Most in 2-1/2 Years
Australia's seasonally adjusted wage price index rose by 2.3% yoy in Q4 2021, compared with market forecasts of 2.4% and after a 2.2% increase in Q3. This was the highest reading since Q2 2019, amid improved business conditions in the wake of the COVID-19 pandemic. Public sector wages for the second straight quarter recorded an increasing rate of annual growth of 2.1% (vs 1.6% in Q3) after a series low of 1.3% in Q2. Meanwhile, growth in the private sector continued (2.4% vs 2.4%). Across industries, annual wage growth in the original term ranged from 1.3% for the utility sector to 3.5% for accommodation and food services. On a quarterly basis, the wage price index grew 0.7% in Q4, the most since Q1 2014 and matching consensus, driven by the implementation of the last phases of award updates and state-based public sector agreements. Industries that contributed most to growth were the health, care and social assistance, retail trade, and public administration and safety industries.
2022-02-23