The Wage Price Index (WIP) recorded a 1.3% jump in the September quarter, the highest quarterly growth since March 2009.
The annual WIP has increased by 4% since March 2009.
Compared to public sector wages rising to 3.5%, private sector wages jumped to 4.2%.
The Fair Work Commission’s annual wage review decision was the main driving force that contributed to the increase in higher wage growth in the private sector.
As per the experts, a wage increase would continue further by the end of the year.
- Published By Team Australia News