How Wage Growth Compares over years.
The following chart, from the Australian Bureau of Statistics, shows each quarters annualised wage growth percentages.
The latest figures of 2.4%, released for the year ended March 2022, is the equal highest, in the years covered, with the December 2018 year which was also 2.4%.
Wage growth can be seen to drop in the first half of 2020, when Covid began to take effect, with recovering wage growth beginning in the last half of 2021, with the reduction in Covid restrictions.
Australian Seasonally Adjusted Wage Growth.
Source: www.abs.gov.au
Low Wage Growth Worldwide.
These figures show Australia and Canada showing the same wage growth at 2.4% for the year, and how it compares to countries with lower rises.
