SYDNEY (Reuters) – Australian wages posted the largest increase on record last quarter as a sharp rise in minimum wages benefited millions of workers, while intense competition among employers also pushed up many individual pay deals.
Figures from the Australian Bureau of Statistics out on Wednesday showed its wage price index rose 1.3% in the September quarter, matching forecasts and the biggest quarterly rise in the 26-year history of the series.
Annual pay growth picked up to 4.0%, from 3.6%, the highest since early 2009 and just above market expectations of 3.9%.
(Reporting by Wayne Cole; Editing by Tom Hogue)
