Wages Growth Hits Decade High, Still Far Below Inflation

A woman shelters from the rain under an umbrella while crossing a street in Sydney on October 6, 2022. (Photo by Muhammad FAROOQ / AFP) Photo by MUHAMMAD FAROOQ/AFP via Getty Images

Annual wage growth increased by almost a full percent during beginning of the year as the Australian job market remains tight.

The Australian Bureau of Statistics (ABS) seasonally adjusted wage price index rose 0.8 percent in the March quarter and 3.7 percent over the year. This is an increase from the 3.4 percent annual wage growth in the December quarter.