Australia’s Q2 wages rise 0.8%, private growth at four-year low

[SYDNEY] Australian wages rose at a moderate pace for a fifth straight quarter in the June quarter as annual growth in the private sector slowed to the lowest in four years, data showed on Wednesday (Aug 19).

Figures from the Australian Bureau of Statistics showed its wage price index rose 0.8 per cent in the June quarter, the same as the previous four quarters and dead in line with analyst forecasts. Annual pay growth held at 3.2 per cent, down from a post-pandemic peak of 4.3 per cent in late 2023.

Annual growth in the private sector dipped to 3.1 per cent, the slowest since mid-2022, while public wage growth held at 3.4 per cent. The main industry contributors to wage growth were jobs in public administration and safety, health care and social assistance. REUTERS