Public sector wages jump in Dec quarter; WPI up 0.9%

21 February 2024

 

Summary: December quarter WPI up 0.9%, in line with expectations; annual growth rate rises from 4.1% to 4.2%; UBS: public sector wage growth key driver of increase; ACGB yields decline modestly; rate-cut expectations firm; Westpac: labour market peaked in first half of 2023, still be historically tight but now in softening trend; private sector wages up 4.2% over year, public sector up 4.3%; January underutilisation rate suggests slowing private wage...

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