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Wage growth subdued at 0.5% seasonally adjusted
The seasonally adjusted Wage Price Index (WPI) rose 0.5 per cent in June quarter 2017 and 1.9 per cent over the year, according to figures released today by the Australian Bureau of Statistics (ABS).
The WPI, seasonally adjusted, has recorded quarterly wages growth in the range of 0.4 to 0.6 per cent for the last 12 quarters (from September quarter 2014).
ABS Chief Economist Bruce Hockman noted: "Low wages growth continued in the June quarter 2017, with annual wages growth continuing to hover around 2 per cent. This low wages growth reflects, in part, ongoing spare capacity in the labour market. Underemployment, in particular, is an indicator of labour market spare capacity and a key contributor to ongoing low wages growth."
Seasonally adjusted, private sector wages rose 1.8 per cent and public sector wages grew 2.4 per cent through the year to June quarter 2017.
In original terms, through the year wage growth to the June quarter 2017 ranged from 1.1 per cent for the Mining industry to 2.6 per cent for Health care and social assistance industries.
Western Australia recorded the lowest through the year wage growth of 1.4 per cent and South Australia and Northern Territory the highest of 2.1 per cent.
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