Australia Wage Growth Accelerates In Q1

(RTTNews) - Australia's wage growth accelerated in the first quarter for the first time since the middle of 2024, data from the Australian Bureau of Statistics showed on Wednesday. The wage price index advanced 3.4 percent on a yearly basis in the first quarter, following a 3.2 percent rise a quarter ago. Economists had forecast the annual growth to remain unchanged at 3.2 percent.

Quarter-on-quarter, wages grew 0.9 percent after rising 0.7 percent in the preceding quarter.

Annual wage growth in private sector was unchanged from the December quarter at 3.3 percent. At the same time, public sector wage growth was higher than the private sector at 3.6 percent in the March quarter.