Australian Bureau of Statistics (ABS) has released an update on annual wage growth for June 2022 quarter. During the quarter, the seasonally adjusted Wage Price Index increased 0.7% for the third consecutive quarter.
Private sector wages increased 0.7% over the June quarter and public sector rising by 0.6%. Annually private sector wages increased strongly that the public sector wages. The average size of private sector hourly wage rises grew to 3.8%, up from 2.7% compared to the previous corresponding period.
Jobs in construction grew 1.4% and professional, scientific and technical services by 0.7%. Jobs in these two areas were the top contributors of the wage growth during the June 2022 quarter.
The average pay rise during the quarter was mostly driven by in-demand market sensitive jobs as well as enterprise agreements connected to the Consumer Price Index.
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