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.
Wage Growth in Australia averaged 3.18 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 1.90 percent in the third quarter of 2016. 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 August of 2020. source: Australian Bureau of Statistics
Wage Growth in Australia is expected to be 2.40 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 2021, according to our econometric models.