Advertisement
The Australian Bureau of Statistics (ABS) has just released its Wage Price Index for the December quarter of 2016, which revealed a continuation of weak wages growth across the economy, with annual wages growth falling to the lowest rate in the series’ 19 year history (see below charts).
According to the ABS, wages grew by 0.48% (both s.a. and trend) in the December quarter. Private sector wages grew by 0.40% (both s.a. and trend) over the quarter, whereas public sector wages grew by 0.55% (both s.a. and trend).
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.