WAGE PRICE INDEX
The All sectors quarterly change, in trend terms, is 0.9%, with the through the year change being 4.0%. This is the fifth consecutive quarter in which the Private sector quarterly movement has been greater than the Public sector. The through the year change for the Private sector is now 4.2% compared to 3.6% for the Public sector.
In original terms, all states and territories reported quarterly increases of over 1.0% with the exception of the Northern Territory (0.8%). Queensland recorded the highest quarterly change (1.5%) and Western Australia the highest through the year change (5.1%).
In original terms, Mining recorded the highest through the year change (6.3%). Personal and other services recorded the highest quarterly change (2.1%). This is the highest quarterly movement recorded by that industry since the start of the survey. Accommodation, cafes and restaurants recorded the lowest quarterly and through the year changes of any industry (0.7% and 2.3% respectively).
NON-WAGE PRICE INDEX
Annual and public holiday leave
The annual and public holiday leave index increased by 5.8% in 2007-08 compared to 4.0% for the previous financial year. Changes in this index generally reflect wages growth and variations in public holiday entitlements. There were very few changes in annual leave entitlements reported between 2006-07 and 2007-08, however a change in the structure of school terms in Victoria resulted in some jobs receiving an additional one week's annual leave entitlement. This contributed to the increase in the annual and public holiday leave price indexes for Education and Victoria.
New South Wales and the Australian Capital Territory each had an additional public holiday in 2007-08, Asia-Pacific Economic Co-operation Day and Family and Community Day respectively.
The percentage change from the previous financial year was 4.4% compared to 4.2% for 2006-07. No changes to superannuation legislation occurred in 2007-08 so changes in this index reflect increases in wages and changes in annual leave and public holiday entitlements. At the industry level, the superannuation indexes for Mining and Construction increased at a rate greater than for wages as some employers changed superannuation entitlements from a flat dollar amount to a percentage of wages and salaries.
The percentage change from the previous financial year was 4.3%. South Australia was the only jurisdiction that made changes to its payroll tax regime in 2007-08. South Australia decreased its rate of payroll tax with the result that the change from the previous financial year was 0.6% for 2007-08 compared to 4.5% for 2006-07.
The 2007-08 index for Australia decreased by 4.7%. Most jurisdictions reduced premium rates in 2006-07 and 2007-08 with the exception of South Australia.