Wage growth in the private sector has seen its smallest quarterly increase since 2021.
Overall, wages for the June quarter rose by 4.1 per cent compared to this time last year, new data from the Australian Bureau of Statistics has revealed.
But a slowdown in private sector wage growth was offset by an increase in public sector wage growth, and that kept nationwide wage growth steady on average
The new Australian Bureau of Statistics (ABS) data show private sector wages grew by 0.7 per cent in the June quarter, down from 0.9 per cent in the March quarter.
Public sector wages rose 0.9 per cent, up from 0.6 per cent, seasonally adjusted.
“The stronger June quarterly rise for the public sector was largely due to the newly synchronised timing pattern of Commonwealth public sector agreement increases,” Marquardt said.
Yearly wages in the public sector are up 3.9 per cent, which is higher than the 3.8 per cent recorded last quarter.
Yearly wage growth in the private sector was 4.1 per cent in the June quarter, after three separate quarters of 4.2 per cent growth.
This is higher than the 3.9 per cent growth seen at this time last year.
