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.
Leigh Merrington from the ABS said the annual wage growth was the highest since 2012, a reflection of the current state of the labour market and high inflation, which is at seven percent.
The private sector led the charge, with wages growing annually by 3.8 percent and 0.8 percent over the quarter….