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Wages grow 2.5 per cent in 2014
The seasonally adjusted Wage Price Index (WPI) rose 0.6 per cent in the December quarter 2014 and 2.5 per cent over the last year, according to figures released today by the Australian Bureau of Statistics (ABS).
The rate of wages growth, in seasonally adjusted terms, has remained stable at 0.6 per cent for the third quarter in a row.
Private sector seasonally adjusted wage growth in the December quarter was 0.6 per cent and Public sector wages grew 0.7 per cent. Over the last year Public sector wages grew at a faster rate than the Private sector, 2.7 per cent compared to 2.5 per cent. Public sector wage growth is being driven by State and Local government employee pay increases.
The Information media and telecommunications industry had the largest quarterly wage rise of 1.2 per cent due to regular December quarter pay increases. The smallest quarterly rise across all industries was the Accommodation and food services industry, where wages rose 0.2 per cent.
Further information is available in Wage Price Index, Australia (cat. no. 6345.0), available for free download from the ABS website – https://www.abs.gov.au.
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