Australian wage growth plummets

The Australian Bureau of Statistics (ABS) has just released its Labor Price Index for the September quarter of 2019, which revealed falling wage growth:

According to the ABS, wages grew by just 0.53% (both s.a. and trend) in the September quarter. Private sector wages grew by 0.53% (both s.a. and trend) over the quarter, whereas public sector wages grew by 0.52% (s.a. ) and 0.59% (trend).

Over the year, total wages grew by just 2.29% (s.a.) and 2.37% (trend), with the private sector experiencing just 2.21% (s.a.) and 2.29% (trend) growth and public sector wages growing by 2.49% (both s.a. and trend).

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

Share

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.