SYDNEY, May 13 (Reuters) – Australian wages rose at a moderate pace in the first quarter as annual growth in the private sector slowed to the lowest in almost four years, data showed on Wednesday. Figures from the Australian Bureau of Statistics showed its wage price index rose 0.8% in the March quarter, the same […]
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Australia wages growth slows in Q1, led by private sector
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SYDNEY, May 13 (Reuters) – Australian wages rose at a moderate pace in the first quarter as annual growth in the private sector slowed to the lowest in almost four years, data showed on Wednesday.
Figures from the Australian Bureau of Statistics showed its wage price index rose 0.8% in the March quarter, the same as the previous quarter and in line with analyst forecasts. Annual pay growth ticked down to 3.3%, from 3.4%.
Growth in the private sector dipped to 3.2%, the slowest since late 2022, while public wage growth dropped to 3.3% from 4.0%. The healthcare and social assistance industry made the largest contribution to wages growth.
(Reporting by Wayne Cole; Editing by Christian Schmollinger)