The Australian Bureau of Statistics reported on Wednesday that the wage price index in Australia experienced a seasonally adjusted increase of 0.8 percent in the third quarter of 2024. This figure mirrors the growth observed in the previous quarter and fell slightly below the anticipated rise of 0.9 percent.
During this period, both the private and public sectors reported a 0.8 percent increase in wages. Significant contributors to the quarterly wage growth were healthcare and social assistance, which saw a rise of 1.7 percent, along with retail trade and administrative and support services, both experiencing an increase of 2.1 percent.
When examined on an annual basis, wage prices increased by 3.5 percent. This growth, while slightly below the forecasted 3.6 percent, marks a decline from the 4.1 percent increase recorded in the second quarter.
