Wage growth in Australia is s l o w

0.5 % q/q

  • expected 0.5% q/q, prior 0.5%

2.2 % y/y

  • expected 2.2% y/y, prior 2.2%

Slow growth in wages is holding back spending (this is an RBA worry) and inflation (ditto). It is part of what is keeping speculation of further RBA easing on the simmer.

A brighter picture is painted by jobs growth, this is keeping on keeping on. We get the latest labour market report from OZ tomorrow.

  • Employment Change: K expected 10K, prior 28.9 K
  • Unemployment Rate: 5.2% expected %, prior 5.1%
  • Full Time Employment Change: K prior was -0.3K
  • Part Time Employment Change: K prior was 29.2K
  • Participation Rate: % expected 66.0%, prior was 66.0%

Preview here