Australia: WCI turns the corner, but nothing alarming - TDS

Sandeep Kanihama FXStreet Contributor

Australia’s Q3 Wage Cost Index rose +0.5%/qtr and +2.0%/yr, less than mkt and TD expectations, so AUD slipped 50pips to $US0.758, explains the research team at TDS.

Key Quotes

“Private wage growth picked up from 1.8% to 1.9%/yr, while the public sector remained at 2.4%/yr. Cyclical wages (Manufacturing, Construction and Professionals) rose to 1.82%/yr, the highest in nearly two years.”

“Large increases in minimum wages tends to exacerbate youth un(der)employment, where the underemployment ratio for the 15-24 age bracket is multiples of the prime working age (25-54) bracket.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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