Wages Grow 3.5 Per Cent For Year: Australia

The Wage Price Index (WPI) rose 0.8 per cent in September quarter 2024, and 3.5 per cent for the year, according to seasonally adjusted data released today by the Australian Bureau of Statistics (ABS).

All sector WPI, quarterly and annual movement (%), seasonally adjusted (a)

Quarterly (%)Annual (%)
Sep-050.94.2
Dec-051.04.1
Mar-061.04.1
Jun-061.04.0
Sep-060.94.0
Dec-061.14.1
Mar-071.04.0
Jun-071.14.1
Sep-071.14.3
Dec-070.84.0
Mar-081.04.1
Jun-081.14.2
Sep-081.14.2
Dec-080.94.3
Mar-090.94.1
Jun-090.83.8
Sep-090.43.0
Dec-090.82.9
Mar-101.03.0
Jun-100.83.0
Sep-101.13.6
Dec-101.03.9
Mar-110.93.9
Jun-110.73.8
Sep-110.83.6
Dec-111.03.6
Mar-121.03.6
Jun-120.93.8
Sep-120.83.8
Dec-120.73.4
Mar-130.73.1
Jun-130.62.8
Sep-130.62.6
Dec-130.72.6
Mar-140.82.7
Jun-140.52.6
Sep-140.62.6
Dec-140.62.5
Mar-150.62.3
Jun-150.52.3
Sep-150.62.3
Dec-150.52.2
Mar-160.52.1
Jun-160.52.1
Sep-160.41.9
Dec-160.51.9
Mar-170.61.9
Jun-170.51.9
Sep-170.52.0
Dec-170.62.1
Mar-180.52.0
Jun-180.62.1
Sep-180.62.3
Dec-180.52.3
Mar-190.52.3
Jun-190.62.3
Sep-190.52.2
Dec-190.52.2
Mar-200.52.2
Jun-200.21.8
Sep-200.11.4
Dec-200.51.3
Mar-210.71.5
Jun-210.51.8
Sep-210.52.2
Dec-210.72.4
Mar-220.72.4
Jun-220.92.7
Sep-220.93.1
Dec-220.83.3
Mar-231.03.7
Jun-230.83.6
Sep-231.34.0
Dec-231.14.3
Mar-240.84.1
Jun-240.84.1
Sep-240.83.5
  1. See Interpretation of index numbers, Percentage change and rounding on the Methodology page.

Michelle Marquardt, ABS head of prices statistics said: “September annual wage growth was 3.5 per cent, falling below 4.0 per cent for the first time since June quarter 2023.”

Quarterly wage dynamics in all sectors

Average hourly wage changeProportion of jobs
Sep-103.942
Dec-103.722
Mar-113.524
Jun-113.315
Sep-113.837
Dec-113.723
Mar-123.522
Jun-123.916
Sep-123.438
Dec-123.519
Mar-132.921
Jun-133.314
Sep-133.038
Dec-132.721
Mar-142.626
Jun-142.613
Sep-143.036
Dec-142.622
Mar-152.420
Jun-152.513
Sep-152.640
Dec-152.616
Mar-162.319
Jun-162.412
Sep-162.539
Dec-162.515
Mar-172.418
Jun-172.511
Sep-172.838
Dec-172.616
Mar-182.418
Jun-182.414
Sep-182.942
Dec-182.619
Mar-192.516
Jun-192.614
Sep-192.839
Dec-192.615
Mar-202.518
Jun-201.311
Sep-202.221
Dec-202.516
Mar-212.325
Jun-212.511
Sep-212.734
Dec-212.626
Mar-223.018
Jun-223.414
Sep-224.043
Dec-223.723
Mar-233.719
Jun-234.113
Sep-235.446
Dec-234.421
Mar-244.014
Jun-244.113
Sep-243.745
  1. Average hourly wage change only includes jobs recording a wage movement in the current quarter.

A similar proportion of jobs had a wage change in September quarter 2024 (45 per cent) as in September quarter 2023 (46 per cent).

The average size of hourly wage change was lower in September quarter 2024 (+3.7 per cent) compared to the same period in 2023 (+5.4 per cent).

“Wage rises for many jobs can be directly or indirectly linked to the outcomes of the Fair Work Commission Annual Wage Review decision. The latest decision of a 3.75 per cent wage increase paid from 1 July 2024 was lower than the September quarter 2023 increase of 5.75 per cent. It was also lower than the Commission’s September quarter 2022 awarded increase of between 4.6 per cent and 5.2 per cent,” Ms Marquardt said.

Annual wage growth by sector, seasonally adjusted (a)

Private (%)Public (%)All sector (%)
Sep-142.42.72.6
Dec-142.52.72.5
Mar-152.22.52.3
Jun-152.22.52.3
Sep-152.12.72.3
Dec-152.02.62.2
Mar-162.02.52.1
Jun-162.02.42.1
Sep-161.92.31.9
Dec-161.82.31.9
Mar-171.82.31.9
Jun-171.82.51.9
Sep-171.92.42.0
Dec-171.92.42.1
Mar-181.92.42.0
Jun-182.12.32.1
Sep-182.12.62.3
Dec-182.32.62.3
Mar-192.42.42.3
Jun-192.32.72.3
Sep-192.22.42.2
Dec-192.22.22.2
Mar-202.12.32.2
Jun-201.82.11.8
Sep-201.21.81.4
Dec-201.31.61.3
Mar-211.51.51.5
Jun-211.91.31.8
Sep-212.31.72.2
Dec-212.42.12.4
Mar-222.42.22.4
Jun-222.72.42.7
Sep-223.42.43.1
Dec-223.62.53.3
Mar-233.82.93.7
Jun-233.93.13.6
Sep-234.23.54.0
Dec-234.24.24.3
Mar-244.23.84.1
Jun-244.13.94.1
Sep-243.53.73.5

Seasonally adjusted, annual public sector wage growth was higher than private sector growth for the first time since December quarter 2020.

Public sector annual growth (+3.7 per cent) was higher than in the same quarter last year (+3.5 per cent), but lower than the recent peak (+4.2 per cent) seen in December quarter 2023.

“Annual growth in the private sector was 3.5 per cent in the September quarter 2024. This is the lowest private sector annual growth since the September quarter 2022,” Ms Marquardt said.

/ABS Public Release. View in full here.