BREAKING: Australia’s seasonally adjusted wages price index rose 0.7 per cent over the June quarter and 2.6 per cent over the year, just below forecasts. Follow updates here:
Australia’s seasonally adjusted wages price index rose 0.7 per cent over the June quarter and 2.6 per cert over the year, just below forecasts of a 0.8 per cent quarterly rise and an annual 2.7 per cent rise.The ABS said the private sector was the main driver of wages growth over the quarter.
“The average size of wage rises within the private sector was a notable factor influencing wages growth,” the bureau said. “Jobs in the Construction and Professional, scientific and technical services industries were the main contributors to growth.”Private sector wages rose 2.7 per cent over the year to June quarter 2022, the highest seasonally adjusted rate of growth for the sector since September 2013.
ABS said demand for skilled jobs over the last 12 months has “continued to build wage pressure across a broad range of industries and jobs, reflected in the increasing size of pay rises”.
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