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Yesterday’s labour price index for the December quarter, released by the ABS, confirmed that the public sector is still driving wage growth across the Australian economy:
As shown above, public sector wages grew by 2.32% in the year to December, versus a 2.16% increase across the private sector.
This continues a long-running trend, with real public sector wages growing by 14.7% since June 2002, versus growth of only 8.1% across the private sector:
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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.