Australia's seasonally adjusted wage price index rose by 1.4 percent year-on-year in the fourth quarter of 2020, unchanged from the previous period's record low but above market forecasts of 1.1 percent growth, due to the impact of COVID-19 disruptions and continued adjustment to the economic uncertainty. A pick up in private sector wage growth (1.4 percent vs 1.2 percent in Q3) offset a further slowdown in public sector wage growth (1.6 percent vs 1.8 percent). Across industries, annual wage growth ranged from +0.3 percent for the accommodation and food services to +2.4 percent for education and training. On a quarterly basis, the wage price index advanced 0.6 percent in the December quarter, accelerating from a 0.1 percent gain in the September quarter. source: Australian Bureau of Statistics
Wage Growth in Australia averaged 3.12 percent from 1998 until 2020, 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 May of 2021.
Wage Growth in Australia is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Australia to stand at 2.30 in 12 months time. In the long-term, the Australia Annual Change in Hourly Rates of Pay is projected to trend around 2.30 percent in 2022, according to our econometric models.