Wages Up 0.6% December Quarter 2017

Wages Up 0.6% December Quarter 2017

Australian Bureau Of Statistics

Wages Rise 0.6% Seasonally Adjusted

Victor P Taffa

Seasonally adjusted Wage Price Index (WPI) rose 0.6 % in December Quarter 2017 according to figures released today by the Australian Bureau of Statistics (ABS).

WPI rose 2.1 % through the year seasonally adjusted to December Quarter 2017.

“Annual rate of wage growth has increased for the second consecutive quarter reflecting falling unemployment and underemployment rates, and increasing job vacancy levels.” ABS Chief Economist Bruce Hockman said.

Seasonally adjusted, private sector wages rose 1.9 % and public sector wages grew 2.4 % through the year to December Quarter 2017.

In original terms, through the year wage growth to the December quarter 2017 ranged from 1.4 % for the Mining industry to 2.8 % for the Health care and social assistance industry.

Victoria was the highest through the year wage growth of 2.4 % and The Northern Territory recorded the lower of 1.1 %.