A beat for the Australian wages data

+0.6% q/q

  • expected +0.5% q/q, prior +0.5%

+2.3% y/y

  • +2.3% expected , prior +2.3%

Encouraging news for the RBA. Spare capacity in the economy has been holding wage growth back.

Big jump in public sector wage growth in quarter a bit of a caveat.