The ABS has released its Feb quarter Average Weekly Earnings (AWOTE) report today and it shows ongoing solid wage rises across the nation. Better than the market was forecasting too with QoQ growth of 1.1% versus expectations of 1% and YoY growth of 4.4% versus 4.1% expected.
Here’s the long term chart:
That’s still very respectable wage growth and not suggestive at all of a struggling labour market, so this is one for the bulls.
Indeed, the release also contradicted yesterday’s Labour Price release, given it showed WA eased and everywhere else did just fine:
Yesterday’s mining boom was delivering for all.