Private Sector Wage Growth Sluggish, Reported at Less Than 2 Percent for First Time in Nearly 20 Years
The latest Wage Price Index for the June quarter 2016 was released on 17 August 2016 by the ABS. It reports that wages in the private sector grew 1.9 percent in the year to June 2016, the lowest reported growth through the year since the ABS first began publishing the Index (in September 1998). In the June quarter 2016, wages grew just 0.4 percent. The Wage Price Index measures changes over time in the price of labour services, unaffected by changes in the quantity or quality of work performed. The "headline" measure of the Index is the total hourly rates of pay excluding bonuses.