While overall wage growth has declined, the public sector saw a sharper slowdown, with annual increases dropping to 2.8 percent.
Australia’s annual wage growth slowed to 3.2 percent in 2024, marking the weakest rise since September 2022, according to the latest data by the Australian Bureau of Statistics (ABS).
Quarterly wage growth fell to 0.7 percent in the December quarter, down from 0.9 percent in the previous quarter.
ABS head of prices statistics Michelle Marquardt said the slowdown was noticeable across both public and private sectors, with the public sector experiencing a sharper decline.
“At 3.2 percent, the annual increase in wages was down from 4.2 percent in December quarter 2023 and is the equal lowest since September quarter 2022,” she said.
Public sector wages grew 2.8 percent annually, down from 3.7 percent in September, while private sector wages rose 3.3 percent.
“This drop in contribution was driven by the timing of some wage agreements shifting outside the December quarter this year, other agreements expiring, or having smaller increases compared to the same time in 2023,” Marquardt said.
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