Wage Growth In Australia – Lowest In 18 Years
Wages in Australia grew at a minuscule 0.4% in the 2016 March quarter. The Australian Bureau of Statistics reports that through the year to March quarter 2016 the wage price index rose by only 2.1%, the lowest in 18 years.
The ABS also reported that private sector wages grew by just 0.4% while public sector wages grew by 0.5%.
Those who work in education and training obtained a 1% wage increase in the March Quarter.
However, through the year private sector wages grew at a slower pace than public sector, 1.9 per cent compared to 2.5 per cent (seasonally adjusted).
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