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Australian Wage Price Index grew by 0.5%

Wednesday, Aug 16 2017
Australian Wage Price Index grew by 0.5%

For the sixth consecutive quarter, annual growth in wages has recorded its lowest level since the data series began in the December-quarter 1997. The seasonally adjusted Wage Price Index (WPI) rose 0.5 per cent in June quarter 2017 and 1.9 per cent over the year. The WPI, seasonally adjusted, has recorded quarterly wages growth in the range of 0.4 to 0.6 per cent for the last 12 quarters (from September quarter 2014).

This low wages growth reflects, in part, ongoing spare capacity in the labour market. Underemployment, in particular, is an indicator of labour market spare capacity and a key contributor to ongoing low wages growth.

More in this category: « US Retail Sales up by 0.6% UK Unemployment Rate fell to 4.4% »

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