December quarter wage index rose from 3.1% to 3.3%, but 7.8% inflation indicates a 4.5% decrease in real wages
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Australian salaries increased at a faster pace in the December quarter in a tight labour market, but not enough to prevent the gap with inflation widening to a record level.
The wage price index (WPI) for the final three months of 2022 came in at 3.3%, an increase on the 3.1% pace in the September quarter and the highest since the end of 2012. Economists had forecast a 3.5% increase.
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Continue reading…December quarter wage index rose from 3.1% to 3.3%, but 7.8% inflation indicates a 4.5% decrease in real wagesFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralian salaries increased at a faster pace in the December quarter in a tight labour market, but not enough to prevent the gap with inflation widening to a record level.The wage price index (WPI) for the final three months of 2022 came in at 3.3%, an increase on the 3.1% pace in the September quarter and the highest since the end of 2012. Economists had forecast a 3.5% increase.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…