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The Australian Bureau of Statistics (ABS) has just released its Wage Price Index for the September quarter of 2015, which revealed a continuation of soft wages growth across the economy, with annual wages growth also tracking at the lowest rate in the series’ 18 year history (see below charts).
According to the ABS, wages grew by 0.58% (both s.a. and trend) in the September quarter. Private sector wages grew by 0.50% (both s.a. and trend) over the quarter, whereas public sector wages grew by 0.65% (both s.a. and trend).
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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.
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