According to the ABS, the seasonally adjusted Wage Price Index (WPI) rose 0.6 per cent in the September quarter 2015 and 2.3 per cent over the last year, according to figures released today. It is an all time record low for the Private sector, though Government servants are doing rather better. This data underscores the continued pressure on rentals from investment properties, because rentals are more linked to income than house prices.
In the September quarter 2015, Private sector wages grew 0.5 per cent and Public sector wages grew 0.7 per cent (seasonally adjusted).
Private sector seasonally adjusted wage growth of 2.1 per cent over the last year is the lowest rate of wages growth since the start of the WPI series. The through-the-year series was first published in September quarter 1998.
In the Public sector, wages grew 2.7 per cent over the last year.
In the September quarter, the largest rise (original series) of all industries is 1.6 per cent in Accommodation and food services. Finance and insurance services had the smallest rise of 0.2 per cent.
