Australian wages growth has accelerated for the second consecutive quarter but continues to lag inflation, according to newly released data from the Australian Bureau of Statistics (ABS).
The annual rate of wages growth was 2.4 percent, and while it is the highest annual rate recorded since December 2018, it fell below expectations.
ABS said it was driven by wages growth in the private sector, increasing 0.7 percent during the March quarter.
Annual wage and salary reviews pushed wage growth for the private sector, with a small number of jobs experiencing large increases as companies try to retain and attract skilled workers.
ABS head of price statistics, Michelle Marquardt, said the average size of private sector job wage increases had risen to the highest level since June 2013….
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