Image of a businessman paying an employee.
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Growth in Australian wages remained unchanged during the June quarter – according to the Australian Bureau of Statistics (ABS) – although the market had expected a slightly stronger number.

The seasonally adjusted Wage Price Index for the June quarter rose 0.8% – the same figure as in the March quarter – although the market had priced in a rise to 0.9% for the period.

Across the whole year, the WPI rose 4.1% – and this too had not changed, although it came in slightly above the 4.0% expectation. This continues the trend of annual wage growth remaining above 4.0% since the September quarter of 2023.

The public sector is storming ahead in terms of wage growth, with a seasonally adjusted rise of 0.9% for the June quarter. This was not only a lift from last quarter’s 0.6% reading, but also represents the highest rise for the sector in a June quarter since 2012, when it came in at 1.0%.

Looking at the year to June 2024, public sector wages registered a rise of 3.9%: this was an increase from the 3.8% annual rise in the previous quarter, as well as the 3.1% recorded in the same period last year.

But private sector wages appear to be trending in the opposite direction: their growth for the June quarter was 0.7% – the equal lowest rise for the sector since December quarter 2021.

Similarly, private sector wage growth for the year to June quarter 2024 was 4.1%, following three consecutive quarters showing annual increases of 4.2%.

The ABS said the sectors providing the greatest boost to wage increases during the June quarter were public administration and safety (1.0%), construction (0.9%), and professional, scientific and technical services (0.7%).

The ASX200 moved up marginally on the cooler-than-expected reading, from 0.03 to 0.16%, before softening again.

More From The Market Online
The Market Online Video

ASX Market Close: Index slides again as Trump concerns weigh | 13 March 2025

The ASX200 closed down 0.48% at 7,749 points.
The Market Online Video

Thursday’s HotCopper Trends: MTM’s aluminium partnership, Greentech intersections | March 13, 2025

The ASX has been trading mostly flat, down by a whisker at 7,781 points.
Nine HQ in some place

Nine promotes Matt Stanton from acting to full CEO after global search

Nine Entertainment Co has confirmed its former acting CEO Matt Stanton is now the CEO proper…
A gold mining operation

Legacy looks to commodity price story as it releases Drake MRE update

Legacy Minerals Holdings Ltd has published an updated mineral resource estimate for its gold and silver…