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Slight increase in December wage price index

Posted on : Tuesday, 27 February 2018

Both trend and seasonally adjusted wage price indices increased slightly in the December 2017 quarter, a small increase in growth on the previous quarter. Both indices rose 0.6% over the quarter and on an annual basis were up 2.1%, according to a recent Australian Bureau of Statistics (ABS) release.

 

These movements are similar to the September quarter, when the all sectors indicator WPI, both seasonally and trend adjusted, rose by similar quarterly (0.5%) and annual (1.9%/2.0%) rates.

 

The private sector quarterly wages, excluding bonuses, grew by 0.5% and 1.9% annually by both indicators.

 

Changes in WPI (total hourly rates excluding bonuses)

  SECTOR

SEASONALLY ADJUSTED

TREND

CPI

Quarter: Sept. 2017 - Dec.  2017

Year: Dec. Qtr 2016 - Dec. Qtr 2017

Quarter: Sept. 2017 - Dec..  2017

Year: Dec. Qtr 2016 - Dec. Qtr 2017

Qtr: Sept - Dec.

Year: Dec. - Dec.

Australia

0.6%

2.1%

0.6%

2.1%

0.6%

1.9%

Private

0.5%

1.9%

0.5%

1.9%

 

 

Public

0.6%

2.4%

0.6%

2.4%

 

In the private sector, mining experienced the lowest growth (1.4%) with the highest in health care and social assistance (2.6%). Manufacturing (2.3%) and the arts sector (2.5%) were at the higher end of increases. Overall, the all sectors measure saw a similar positioning with the mining sector with the lowest annual increase at 1.4%, while the health care sector had the highest wage growth rate of at 2.8% (combining both its private sector and public sector activities).

 

The annual wage growth across the states and territories saw the strongest growth in Victoria (2.4%) and the lowest in the NT (1.1%).

 

The highest quarterly rise in the private sector across the states and territories was experienced in Victoria (0.6%), while the lowest being in the remaining jurisdictions (0.2%) excluding NSW and SA.

 

WPI % change by state/territory

PERIOD

NSW

VIC

QLD

SA

WA

TAS

NT

ACT

AUSTRALIA

2015

 

 

 

 

 

 

 

 

 

March

2.1

2.6

2.3

2.5

2.1

2.3

2.4

1.8

2.3

June

2.1

2.6

2.1

2.5

2.1

2.5

2.4

1.9

2.3

September

2.2

2.6

2.0

2.3

2.0

2.3

2.4

1.6

2.3

December

2.1

2.4

1.9

2.3

1.8

2.2

2.4

1.6

2.1

2016

 

 

 

 

 

 

 

 

 

March

2.1

2.4

1.9

2.2

2.0

2.2

2.1

1.8

2.1

June

2.2

2.1

1.9

2.2

1.8

2.2

2.0

1.9

2.1

September

2.1

2.0

1.9

2.3

1.7

2.2

2.2

1.9

2.0

December

2.1

1.9

2.0

2.2

1.4

2.4

2.1

1.9

2.0

2017

 

 

 

 

 

 

 

 

 

March

2.1

2.0

1.9

2.2

1.2

2.3

2.1

1.8

1.9

June

2.0

2.0

1.9

2.1

1.4

2.0

2.1

1.9

1.9

September

2.1

2.2

2.2

2.1

1.3

2.2

1.5

1.9

2.0

December

2.1

2.4

2.2

2.0

1.5

2.2

1.1

2.0

2.1

 

Total hourly rates - excluding bonuses. Original data - all sectors - corresponding quarter previous year.

 

SOURCE: Wage Price Index (ABS Catalogue 6345.0 - December 2017)