Australia’s Wage Growth Slows to 3.2 Percent, Hits Two-Year Low

While overall wage growth has declined, the public sector saw a sharper slowdown, with annual increases dropping to 2.8 percent.

Pedestrians are reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, on Feb. 9, 2018. David Gray/Reuters

Australia’s annual wage growth slowed to 3.2 percent in 2024, marking the weakest rise since September 2022, according to the latest data by the Australian Bureau of Statistics (ABS).

Quarterly wage growth fell to 0.7 percent in the December quarter, down from 0.9 percent in the previous quarter.