Wage Price Index rose by 0.6%

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Wednesday, Feb 21 2018

Wage Price Index rose by 0.6%

The seasonally adjusted Wage Price Index (WPI) rose 0.6 per cent in December quarter 2017 according to figures released today by the Australian Bureau of Statistics (ABS). The WPI rose 2.1 per cent through the year seasonally adjusted to December quarter 2017. ABS Chief Economist Bruce Hockman said "The annual rate of wage growth has increased for the second consecutive quarter reflecting falling unemployment and underemployment rates, and increasing job vacancy levels." Seasonally adjusted, private sector wages rose 1.9 per cent and public sector wages grew 2.4 per cent through the year to December quarter 2017.

Separate report on Construction Work Done showed that Tte trend estimate for total construction work done rose 1.1% in the December quarter 2017. The seasonally adjusted estimate for total construction work done fell 19.4% to $50,320.7m in the December quarter. The trend estimate for total building work done rose 0.5% in the December quarter. The trend estimate for non-residential building work rose 2.5% and residential building work fell 0.7%. The seasonally adjusted estimate of total building work done rose 0.2% to $28,124.0m in the December quarter.

More in this category: « CBI Industrial Orders Expectations showed balance of +10% German and French PMI declined in February »

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