Wage growth up 0.8% in June quarter; “moderating”

13 August 2024

 

Summary: June quarter WPI up 0.8%, slightly below expectations; annual growth rate unchanged at 4.1%; Westpac: wage inflation has moderated in first half of year; ACGB yields fall moderately; rate-cut expectations firm; ANZ: wage growth to continue to trend down slowly, reflects rising spare capacity in labour market, lower inflation, smaller award wage rise this year; private sector wages up 4.1% over year, public sector up 3.9%; June underutilisation rate...

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