Wages growth continues to stagnate: ABS
Australian workers are continuing to endure historically low wages growth with another flat result being reported by the Australian Bureau of Statistics for the June quarter.
On a seasonally adjusted basis, wages grew just 0.5 per cent, the same result as the March quarter.
Over the financial year, wages grew 2.1 per cent, held down a slowing rate of jobs growth and ongoing underemployment.
Wage growth was particularly muted in the private sector, rising 2 per cent over the year, compared to the public sector where wages were up 2.4 per cent.
"Private sector wage inflation's recent peak was 4.0 per cent (annual) in Q1 2011 and it has been moderating ever since," wrote Westpac's Justin Smirk in a note on the data.
"Last month we saw a bit of recovery in bonuses but, as is often the case for this component of remuneration, it appears that recovery was fleeting."
Not surprisingly, the ACT enjoyed the largest quarterly rise, up 0.5 per cent, while Queensland, Western Australia, South Australia and Tasmania lagged behind at 0.2 per cent.
The lowest rise by industry was in the retail sector, up just 0.1 per cent for the quarter but 2.3 per cent for year.
Mining is still suffering with the lowest wage growth over the year at 1.3 per cent.
Meanwhile, construction, professional and scientific services and administrative support have all recorded through-the-year growth of less than 2 per cent for six consecutive quarters.
Source: ABC News