Wages data from Australia for the October - December quarter of 2017

+0.6% q/q

  • expected 0.5% q/q, prior 0.5%

+2.1% y/y

  • expected 2.0% y/y, prior 2.0%

Both are beats but still way below average wage growth.


  • Private sector wage growth +1.9% y/y
  • Public sector +2.4% y/y

A lacklustre result for wage growth. Up, sure, but still very slow indeed.

AUD/USD up a few pips after the data.


The background to this is of course the slow wage growth in ozzAustralia ... which combined with high levels of household debt ... is constraining consumption.