Australia wages rise 0.6% in the September quarter
Australia wage price index rose 0.6 percent quarter-on-quarter in the September quarter as expected, extending the moderate rate of wage growth recorded by the series over the last four years, the Australian Bureau of Statistics (ABS) reported a few minutes before press time.
The annualized number rose to 2.3 percent as expected from the previous quarter's reading of 2.1 percent.
Quarterly Change (Jun Qtr 2018 To Sep Qtr 2018) (Source: ABS)
The trend index rose 0.5% and seasonally adjusted index rose 0.6% for Australia in the September quarter. This continued the moderate rate of wage growth recorded by the series over the last four years.
The Private and Public sector rose 0.5% and 0.6% respectively, seasonally adjusted.
The highest index rise at an industry level (in original terms) was recorded in Accommodation and food services (1.9%) and the lowest in Finance and insurance services (0.4%).
Annual Change (Sep Qtr 2017 To Sep Qtr 2018)
The trend and seasonally adjusted indexes for Australia rose 2.2% and 2.3% respectively through the year to the September quarter 2018.
In original terms, rises through the year to September quarter 2018 at the industry level ranged from 1.8% for Mining and Retail trade to 2.8% for Health care and social assistance.
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
