The official Wage Price Index from the Bureau of Statistics shows pay packets lifted 0.8 per cent in the March quarter and 3.7 per cent over the year to March
abc.net.au/news/wage-price-index-abs-march-qtr-2023/102356256The official Wage Price Index from the Australian Bureau of Statistics has shown pay packets lifted 0.8 per cent in the March quarter and 3.7 per cent over the year to March.
The general consensus was that a wage rise above 1 per cent last quarter might force the Reserve Bank's hand into another rate hike as early as next month. The acting head of price statistics at the ABS, Leigh Merrington, said annual wages growth was at its highest level since the September quarter of 2012, reflecting low unemployment and high inflation.
"Wage outcomes over the March quarter 2023 saw a continued lift in the share of jobs receiving wage rises of between 4 and 6 per cent, which is the highest share since 2009.
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