Wages

The Wage Price Index, measuring total hourly rates of pay excluding bonuses, increased a seasonally adjusted 0.8% in Q4 2022, slower than the 1.0% rise expected by the markets and less than the 1.1% recorded in the previous quarter. The Q4 increase took the annual growth rate to 3.3%, which is the highest since Q4 2012. Private sector wage growth decelerated to 0.8% QoQ and 3.6% YoY.

The Wage Price Index, measuring total hourly rates of pay excluding bonuses, increased a seasonally adjusted 1.0% in Q3 2022, accelerating from previous quarters. Private sector wage growth accelerated to 1.2% QoQ and 3.4% YoY, the fastest since Q4 2012. Western Australian private wages growth accelerated 0.7ppts to 1.7% QoQ, to be 3.8% up through the year.

The wage price index, measuring total hourly rates of pay excluding bonuses, increased a seasonally adjusted 0.7% in Q2 2022, lower than market expectations for a 0.8% rise and at the same pace as in the previous two quarters. The Q2 increase took the annual growth rate to 2.6%, which is the fastest since Q3 2014.

The wage price index increased a seasonally adjusted 0.7% in Q1 2022, in line with the market expectations and at the same pace as the previous quarter. The Q1 increase took the annual growth rate to 2.4%, against 2.3% in the previous quarter.

The Wage Price Index, measuring total hourly rates of pay excluding bonuses, increased a seasonally adjusted 0.7% in Q4 2021, as expected. This was the fastest quarterly growth since March 2014. Annual wage growth accelerated to 2.3%, the most since June 2019.

The Wage Price Index, measuring total hourly rates of pay excluding bonuses, increased a seasonally adjusted 0.6% in Q3 2021, as expected. This was faster than the 0.4% recorded in Q2 and saw annual wage inflation pick up to 2.2% from 1.7%.

The Wage Price Index increased a seasonally adjusted 0.4% in Q2 2021. This was slower than the 0.6% recorded in the previous quarter and came against the market expectations that growth would again be 0.6%.