Well, that about wraps it up for real wages growth for the time being — it lasted less than three months at most, going on yesterday’s March quarter Wage Price Index (WPI) data from the Australian Bureau of Statistics.
The WPI rose 0.8% in the three months to March, down from 1% in December and less than market forecasts of 0.9%. Private sector wages rose 0.8% — as the ABS said, “this is the first time that private sector annual wage growth has fallen since September quarter 2020” — while public sector wages barely ticked over, with growth of 0.
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