Australia annual wage growth the highest in three years – The Sydney Morning Herald

Hourly pay rates across Australia rose 0.6 per cent in September quarter, meeting expectations, and have now increased 2.3 per cent over the past 12 months for the highest annual growth rate in three years.

Public sector hourly rates of pay lifted 0.6 per cent in the quarter and 2.5 per cent over the year, according to figures released on Wednesday by the Australian Bureau of Statistics.

Wages have grown by 2.3 per cent over the past 12 months, the highest annual growth rate in three years.

Wages have grown by 2.3 per cent over the past 12 months, the highest annual growth rate in three years.Credit:Jessica Shapiro

Private sector workers received a 0.5 per cent increase in the quarter and 2.1 per cent over the year.

The September quarter result was in line with economist expectations, but seemingly below what traders expected, with the Australian dollar dipping in reaction to the data, from 72.35 to 72.21 US cents.

Autralia economy news

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