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Australia – Wages up 2.1% in 2017 as private and public sector see growth

23 February 2018

Wage growth in Australia grew by 2.1% for the full year to December 2017, according to the Wage Price Index from the Australian Bureau of Statistics.

For the quarter ended December 2017, wage growth in Australia grew by 0.6% when compared to the previous quarter.

"The annual rate of wage growth has increased for the second consecutive quarter reflecting falling unemployment and underemployment rates, and increasing job vacancy levels,” ABS Chief Economist Bruce Hockman said.

Seasonally adjusted, private sector wages rose 1.9% and public sector wages grew 2.4% through the year to December quarter 2017.

Among the states, Victoria saw the highest growth through the year with 2.4% and The Northern Territory recorded the lowest with 1.1% for the same period.

Meanwhile, ABS figures published earlier this month showed Australia’s unemployment rate stood at 5.5% in January.

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