Australia’s wage costs increased at a slower-than-expected pace in the first quarter compared to the previous quarter, as wage growth across most industries slowed, the Australian Bureau of Statistics said on Wednesday.
Wage costs were up a seasonally adjusted 0.5 percent quarter-over-quarter in the first quarter of 2015, missing forecasts and down from 0.6 percent in the previous quarter.
The total hourly rates of pay rose 0.4 percent in the private sector and were up 0.5 percent in the public sector, slower than the previous quarter’s 0.6 percent and 0.7 percent Increases, respectively.
On a yearly basis, wage prices gained a seasonally adjusted 2.3 percent, down from 2.5 percent in the previous quarter, with wage growth In both private and public sectors slowing.
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