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2015 Ends With Lowest Wage Growth On Record

According to figures released by the Australian Bureau of Statistics (ABS) The seasonally adjusted Wage Price Index (WPI) rose 0.5 per cent in the December quarter 2015 and 2.2 per cent over the last year.

Wage growth through the year is now the lowest on record since the series was first published in September quarter 1998.

In the December quarter 2015, Private sector wages grew 0.5 per cent for the fourth consecutive quarter. Public sector wages also grew 0.5 per cent (seasonally adjusted) in the current quarter.

In the Public sector, South Australia recorded the largest quarterly rise of 1.6%, with Tasmania recording the smallest quarterly rise of 0.1%. The Northern Territory recorded the largest through the year Public sector rise of all states and territories, 3.5%. The Australian Capital Territory recorded the smallest through the year rise of 1.3%. Public sector wages growth is being influenced by changes in the timing of pay increases and the size of increases awarded under Enterprise Agreements.

In the Private sector, the quarterly rise for Victoria of 0.5% was the largest quarterly rise of all states and territories. The smallest quarterly rise of 0.2% was recorded by Tasmania and the Northern Territory. Rises through the year in the Private sector ranged from 1.5% for Western Australia to 2.4% for Tasmania. Western Australia, for the fourth quarter in a row has recorded through the year wages growth below 2.0%.

Over the last year, Private sector wages grew at a slower pace than the Public sector, 2.0 per cent compared to 2.6 per cent (seasonally adjusted).

In Mining, Electricity, gas, water and waste services, Construction and Administrative and support services wages grew over the last year at the lowest rate since the commencement of the series.

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