Wage agreements slip to 2.7 pct annually

Annual wage increases struck under bargaining agreements slipped to 2.7 per cent in the March quarter, down from 3.1 per cent in the previous three months.

Annual wage increases secured under enterprise bargaining agreements in the March quarter averaged 2.7 per cent, above the rate of inflation but below the 3.1 per cent for those struck in the December quarter.

Department of Employment figures released on Monday showed agreements made in the private sector came in at an average annualised 2.7 per cent in the March quarter, down from three per cent previously, while public sector settlements dropped 0.8 percentage points to 2.4 per cent.

More up to date wages figures are released on Wednesday, which are expected to show annual growth remaining at a two-decade low of 1.9 per cent in the June quarter and in line with the rate of inflation.


Share

1 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world