Financial News: Australia Wage Price Index Climbs 0.8% In Q3

Australia Wage Price Index Climbs 0.8% In Q3

11/12/2024 - 19:48:00 (RTTNews)

(RTTNews) - The wage price index in Australia was up a seasonally adjusted 0.8 percent on quarter in the third quarter of 2024, the Australian Bureau of Statistics said on Wednesday.

That was unchanged from the previous three months, although it was shy of expectations for an increase of 0.9 percent.

Both the private sector and the public sector rose 0.8 percent for the quarter.

The largest industry contributors to quarterly wages growth were healthcare and social assistance (+1.7 percent), retail trade (+2.1 percent), and administrative and support services (+2.1 percent).

On a yearly basis, wage prices were up 3.5 percent - again short of forecasts for 3.6 percent and down from 4.1 percent in the second quarter.

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