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Australian wages grew 3.4 per cent in the year to September, holding steady from the previous quarter but marking a slowdown from last year’s pace, according to data released Wednesday by the Australian Bureau of Statistics.
The Wage Price Index rose 0.8 per cent in the September quarter, matching growth from both the June quarter and the same period in 2024. However, the annual figure reflects a broader cooling in wage pressures across the economy.
Public sector wages are growing faster than private sector wages for the third consecutive quarter, with public sector annual growth at 3.8 per cent compared to 3.2 per cent in the private sector. State government pay increases accounted for 82 per cent of public sector wage growth this quarter.
Michelle Marquardt, ABS head of prices statistics, said annual wage growth remained steady compared to June but “was slightly lower than this time last year.”
Private sector wage growth has slowed from 3.5 per cent in September 2024 to 3.2 per cent currently. The proportion of private sector jobs receiving wage increases also declined to 47 per cent from 49 per cent a year earlier, while the average size of wage increases fell to 3.6 per cent from 3.9 per cent.
The September quarter data includes the Fair Work Commission’s annual wage review decision of a 3.5 per cent increase effective July 1, down from the 3.75 per cent awarded in 2024.
The wage figures will factor into the Reserve Bank’s upcoming interest rate deliberations as policymakers assess whether wage growth remains consistent with inflation targets.
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