Australia's seasonally adjusted wage price index advanced by 3.5% year-over-year in Q3 2024, easing from a 4.1% growth in the previous quarter and falling short of forecasts for a 3.6% rise. This marked the weakest wage price growth since Q4 of 2022, as wage growth in both the public sector (3.7% vs 3.9% in Q2) and the private sector (3.5% vs 4.1%) moderated, with annual public sector wage growth higher than private sector growth for the first time since Q4 of 2020. In original terms, the main contributors to the growth were electricity, gas, water, and waste services (5.0%), education and training (4.4%), administrative and support services (3.9%), mining (3.8%), manufacturing (3.8%), transport, postal & warehousing (3.7%), healthcare and social assistance (3.6%), construction (3.5%), and accommodation and food services (3.5%). On a quarterly basis, wage prices increased by 0.8%, unchanged from the previous two quarters. That compared with market forecasts for a 0.9% gain. source: Australian Bureau of Statistics

Wages in Australia increased 3.50 percent in September of 2024 over the same month in the previous year. Wage Growth in Australia averaged 3.12 percent from 1998 until 2024, reaching an all time high of 4.30 percent in the second quarter of 2008 and a record low of 1.30 percent in the fourth quarter of 2020. This page provides - Australia Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Annual Change in Hourly Rates of Pay - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.

Wages in Australia increased 3.50 percent in September of 2024 over the same month in the previous year. Wage Growth in Australia is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Annual Change in Hourly Rates of Pay is projected to trend around 2.20 percent in 2025 and 2.30 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-11-13 12:30 AM Wage Price Index YoY Q3 3.5% 4.1% 3.6% 3.8%
2024-11-13 12:30 AM Wage Price Index QoQ Q3 0.8% 0.8% 0.9% 0.9%
2025-02-21 12:30 AM Wage Price Index YoY Q4 3.3%


Related Last Previous Unit Reference
Employed Persons 14537.50 14521.88 Thousand Oct 2024
Employment Change 15900.00 61300.00 Persons Oct 2024
Employment Rate 64.40 64.40 percent Oct 2024
Full Time Employment Chg 9700.00 51600.00 Persons Oct 2024
Job Vacancies 329.90 348.00 Thousand Sep 2024
Participation Rate 67.10 67.20 percent Oct 2024
Labour Costs 114.80 113.40 points Jun 2024
Part Time Employment Chg 6200.00 12512.00 Persons Oct 2024
Population 26.97 26.27 Million Dec 2023
Productivity 94.90 95.70 points Jun 2024
Unemployed Persons 625.80 615.70 Thousand Oct 2024
Unemployment Rate 4.10 4.10 percent Oct 2024
Wage Price Index YoY 3.50 4.10 percent Sep 2024
Wages 1480.90 1432.60 AUD/Week Jun 2024
Wages in Manufacturing 1668.60 1631.10 AUD/Week Jun 2024
Youth Unemployment Rate 9.20 9.10 percent Oct 2024

Australia Annual Change in Hourly Rates of Pay
In Australia, wage growth measures the annual change in hourly rates of pay excluding bonuses for both public and private sector.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 4.10 4.30 1.30 1998 - 2024 percent Quarterly
2008-2009= 100; SA


News Stream
Australia Q3 Annual Wage Growth Weakest in Near 2 Years
Australia's seasonally adjusted wage price index advanced by 3.5% year-over-year in Q3 2024, easing from a 4.1% growth in the previous quarter and falling short of forecasts for a 3.6% rise. This marked the weakest wage price growth since Q4 of 2022, as wage growth in both the public sector (3.7% vs 3.9% in Q2) and the private sector (3.5% vs 4.1%) moderated, with annual public sector wage growth higher than private sector growth for the first time since Q4 of 2020. In original terms, the main contributors to the growth were electricity, gas, water, and waste services (5.0%), education and training (4.4%), administrative and support services (3.9%), mining (3.8%), manufacturing (3.8%), transport, postal & warehousing (3.7%), healthcare and social assistance (3.6%), construction (3.5%), and accommodation and food services (3.5%). On a quarterly basis, wage prices increased by 0.8%, unchanged from the previous two quarters. That compared with market forecasts for a 0.9% gain.
2024-11-13
Australia Q2 Annual Wage Growth Stays at 4.1%
Australia's seasonally adjusted wage price index increased by 4.1% yoy in Q2 of 2024, unchanged from the previous quarter, as the wage growth for the public sector accelerated (3.9% vs 3.8% in Q1) offset by a slowdown in the private growth (4.1% vs 4.2%). The increases in the public sector growth reflected changes to new state and federal wage policies introduced across 2023. In original terms, the main contributors to the growth were healthcare and social assistance (5.0%), electricity, gas, water, and waste services (4.3%), education and training (4.3%), retail trade (4.2%), administrative and support services (4.2%), accommodation and food services (4.2%), mining (4.0%, transport, postal & warehousing (3.9%), manufacturing (3.9%), and construction (3.8%). On a quarterly basis, wage prices climbed by 0.8%, the least in a year, slowing slightly from an upwardly revised 0.9% growth in the prior quarter. That compared with market forecasts for a 0.9% gain.
2024-08-13
Australia Wage Growth Eases in Q1
Australia's seasonally adjusted wage price index climbed by 4.1% yoy in Q1 of 2024, compared with market forecasts and the previous month's figure of a 4.2% growth in Q4 of 2023, which was the highest reading since Q1 of 2009. The wage growth eased for both the public sector (3.8% vs 4.3% in Q4 of 2023) and the private sector (4.1% vs 4.2%). In original terms, the main contributors to the growth were healthcare and social assistance (5.3%), electricity, gas, water, and waste services (4.4%), retail trade (4.4%), administrative and support services (4.3%), transport, postal & warehousing (4.3%), construction (4.2%), education and training (4.1%), manufacturing (4.0%), and mining (3.8%). On a quarterly basis, wage prices increased by 0.8%, easing from an upwardly revised 1.0% gain in the prior quarter, the lowest since Q4 of 2022, and compared to market forecasts of a 0.9% growth.
2024-05-15