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Low wage growth continues in September quarter

Wednesday, Nov 16 2016
Low wage growth continues in September quarter

The seasonally adjusted Wage Price Index (WPI) rose 0.4 per cent in the September quarter 2016, according to figures released today by the Australian Bureau of Statistics (ABS). Through the year to September quarter 2016 the WPI rose 1.9 per cent, a new low for the series. Seasonally adjusted, private sector wages grew 0.4 per cent and public sector wages grew 0.6 per cent in the September quarter 2016. Through the year private sector wages continue to grow at a slower pace than the public sector, 1.9 per cent compared to 2.3 per cent.

The accommodation and food services industry recorded the highest quarterly rise of 1.7 per cent in September quarter 2016 and the mining industry recorded the lowest quarterly rise of 0.1 per cent. Through the year wage growth is now below 2.5 per cent for all industries. In the September quarter 2016 wage growth ranged from 1.0 per cent for mining to 2.4 per cent for health care and social assistance.

 

Aussie is currently being traded 0.75 handle. Pair is likely to find support around 0.7450 area and resistance above 0.7550 level.

More in this category: « US Retail Sales jumped by 0.8% UK Unemployment Rate fell to 4.8% »

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