General
Wages growth stuck at record low as public sector pay freezes bite
A stronger-than-expected increase in private sector pay over the last three months of 2020 has kept wage growth above (very low) economist expectations.
Key points:
- Wages increased an average of 0.6 per cent in the December quarter and 1.4 per cent last year
- Many workers reliant on award wage increases only received their annual pay rise on February 1, 2021
- Victorians saw the biggest increase in wages in the December quarter, having lagged behind during the state’s second lock-down
Australians’ pay packets rose an average of 0.6 per cent over the last three months of last year, double the 0.3 per cent expected by most economists.
Unusually, it was the private sector that led pay rises, with wage gains of 0.7 per cent, seasonally adjusted,…
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