The trend Wage Price Index (WPI) rose 0.5 per cent in the June quarter 2019 and 2.3 per cent through the year, according to figures released today by the Australian Bureau of Statistics (ABS). These are lower than projected in the budget, and highlights the stresses in the economy. Without one-off factors the numbers would be even lower.
Seasonally adjusted private sector wage growth was 0.5 per cent, while public sector wage growth was 0.8 per cent in the June quarter 2019.
ABS Chief Economist, Bruce Hockman said: “Wage growth continues at a steady rate in the Australian economy on the back of strong public sector growth over the quarter. The most significant contribution to wage growth this quarter came from the public sector component of the health care and social assistance industry, where a number of large increases were recorded in Victoria under a plan to ensure wage parity with other states.”
In original terms, annual wages growth to the June quarter 2019 by industry ranged from 1.7 per cent for wholesale trade to 3.3 per cent for health care and social assistance.
Western Australia recorded the lowest through the year wage growth of 1.6 per cent while Victoria recorded the highest of 2.9 per cent.
