Wages up 0.6% in Sep quarter, gains limited

17 November 2021

 

Summary: September quarter wages grow by 0.6%, in line with expectations; annual growth rate moves from 1.7% to 2.2%; wages lift where labour shortages “more pronounced”; private sector wages increase by 2.4% over year, public sector up by 1.7%; “some positive signs”; ABS underutilisation rate implies higher wage growth in December quarter; lower wage growth expected in March 2022 quarter unless underutilisation rate declines. After unemployment increased and wage growth...

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