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Wages growth continues to slow
The seasonally adjusted Wage Price Index (WPI) rose 0.7 per cent in the December quarter 2013 and 2.6 per cent over the last year, according to figures released today by the Australian Bureau of Statistics (ABS) in the Wage Price Index, Australia (cat. no. 6345.0).
"The growth in wages over the last year of 2.6 per cent, seasonally adjusted, was the smallest through the year rise since the series commenced in 1997,” said Ms Robin Ashburn, ABS Director of Wage Price Index.
In the Private sector, wages growth in the December quarter, seasonally adjusted, was 0.6 per cent and the Public sector grew 0.9 per cent.
The information media and telecommunications industry quarterly rise was 1.2 per cent, the largest of all industries and other services industry was the smallest at 0.0 per cent.
Electricity, gas, water and waste services recorded the largest year on year wages growth of 3.3 per cent and professional, scientific and technical services the smallest at 1.6 per cent. Mining wages growth has slowed to 3.1 per cent annually compared to 5.1 per cent a year ago.
Wages grew 0.8 per cent in South Australia in the December quarter 2013, the largest rise of all states and territories. Tasmania recorded the smallest rise of 0.3 per cent.
Further information is available in Wage Price Index, Australia (cat. no. 6345.0), available for free download from the ABS website – www.abs.gov.au.
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