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Australian wage growth beat expectations in the September quarter of 2021, according to new data released today by the Australian Bureau of Statistics (ABS).
Total wages grew by only 0.59% in the September quarter, beating analyst’s expectations of 0.5% growth. Private sector wages grew by 0.59% over the quarter, whereas public sector wages grew by 0.50%.
Overall wages grew by 2.23% over the year, up significantly from the all-time low of 1.36% recorded in the year to September 2020.
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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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