Wage growth in the private sector has seen its smallest quarterly increase since 2021.
Overall, wages for the June quarter rose by 4.1 per cent compared to this time last year, new data from the Australian Bureau of Statistics has revealed.
Compared to last quarter, wages have only risen by 0.8 per cent, down from growth of 0.9 per cent.
In the private sector, wages grew by a sluggish 0.7 per cent.
The ABS head of prices statistics Michelle Marquardt said it was the smallest rise for a June quarter since June 2021.
In the public sector, however, wages went up 0.9 per cent, compared to 0.6 per cent the previous quarter.
That growth was largely due to a pay increase that came into effect in March for all public servants.
“The stronger June quarterly rise for the public sector was largely due to the newly synchronised timing pattern of Commonwealth public sector agreement increases,” Marquardt said.
“Pay rises for these jobs had previously been paid at different times across quarters depending on the timing of individual agency agreements.”
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Yearly wages in the public sector are up 3.9 per cent, which is higher than the 3.8 per cent recorded last quarter.
Yearly wage growth in the private sector was 4.1 per cent in the June quarter, after three separate quarters of 4.2 per cent growth.
This is higher than the 3.9 per cent growth seen at this time last year.
