Australian Bureau of Statistics
1301.0 - Year Book Australia, 2003
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2003
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Changes in the price of labour are derived from quality adjusted average hourly rates of pay (excluding bonuses) of a representative sample of employee jobs. These data are compiled to form the WCI, which is published by the ABS each quarter. The WCI is a 'pure' price index which measures changes over time in wage and salary costs in the Australian labour market. The WCI is unaffected by changes in the quality and quantity of work performed.
For Australia, the annual wages growth to March 2001 was greater than the annual growth to March 2002 (3.7% compared to 3.1%). In both periods, annual wages growth for Professionals (4.3% to March 2001 and 3.5% to March 2002) was greater than the growth for other occupations. As shown in graph 6.49, in March 2002 Advanced clerical and service workers (2.4%) and Elementary clerical and service workers (2.5%) recorded the lowest annual growth rates.
Annual growth by industry is shown in graph 6.50. Although the annual growth rate of the WCI was lower to March 2002 than for the previous year for some industries, the rate of growth in wages increased in Mining, Electricity, gas and water supply, Finance and insurance, Health and community services, and Personal and other services.
For the 12 months to March 2002, Electricity, gas and water supply had the highest rate of wages growth (4.6%). Transport and storage had the lowest rate of wages growth, of 2.4% for the 12 months to March 2002.
This page last updated 23 January 2006
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