Wage growth remains flat in many states and territories
Wages in Australia have risen by a seasonally adjusted margin of 2.6 per cent, according to the latest Wage Price Index (WPI) from the Australian Bureau of Statistics (ABS).
According to ABS Director of Wage Price Index Robin Ashburn, wage growth in 2013 "was the smallest through the year rise since the series commenced in 1997". This is the sixth consecutive quarter in which year-over-year wages growth has decreased.
However, some industries performed significantly better than others.
The most significant growth was recorded in the electricity, gas, water and waste services industry, with the ABS reporting that wages in this industry had increased by 3.3 per cent in the 12 months ending December 2013.
Meanwhile, the professional, scientific and technical services industry recorded the smallest wage growth at just 1.6 per cent.
During the December quarter alone, national wages were up 0.7 per cent (seasonally adjusted). The majority of this growth was in the public sector, however, where the WPI recorded an increase of 0.9 per cent. In comparison, the private sector was up just 0.6 per cent.
This news may well be of interest to recruitment companies as well as candidates, as it highlights which industries are thriving in what remains a competitive economic landscape.
The WPI also highlighted which states and territories had seen the greatest wage growth in recent months. During the December quarter, wages in South Australia increased by an impressive 0.8 per cent, bringing the total wage growth through the year to 3.5 per cent.
Tasmania recorded less positive results. The island state has seen a December quarter wage growth of just 0.3 per cent – the lowest of all states and territories – while through the year wage growth also remained flat at 2.2 per cent.
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