Public sector wage growth highest in a decade, ABS Says

The news: Public sector wage growth is at its highest level since June 2012, according to fresh ABS data. Wages overall grew 0.8% for the third consecutive quarter and 3.6% annually, easing from 3.7% in the previous quarter.

The numbers: Public sector wages grew at 3.8% for a second consecutive quarter, while private sector pay lifted by 3.1%. On an annual basis, 12% of private sector jobs lifted wages compared to 14% in last year's June quarter, with an average increase of 4.5% for for jobs that recorded a wage movement. In the public sector, the average hourly wage increase was 3%.

The context: The annual growth rate for wages remains comparable to levels last seen in 2012. Fewer jobs had wage increases this quarter compared to a year ago, but on average those increases were higher. Wage increases in regular jobs were higher than in the same period last year due to costs of living and market pressures being incorporated into organisation-wide wage decisions, ABS head of prices statistics Michelle Marquardt said.