Australia Wage Price Index for the January to March 2021 quarter
0.6% q/q beat! (a little one, but still ...)
expected 0.5% q/q, prior 0.6%
+1.5% y/y
expected 1.4% y/y, prior 1.4%
Private sector wages +0.6%
- Public sector +0.4%
Wages are a key concern for the RBA, they'd like to see them higher, reasoning that higher wages would help to drive inflation higher towards the RBA target (which is 2 to 3% for core CPI). Data on wages right now is being muddied by the recovery from COVID-19 and associated lockdowns.
Not an inspiring pic really:
