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Australia’s Wage Growth Slows for First Time Since Late 2020

Posted on AllSides May 14th, 2024
From The Left

Australian wage growth eased for the first time since the depths of the pandemic in the first three months of the year, in a positive result for the Reserve Bank which remains watchful of price pressures in the economy.

The Wage Price Index advanced 4.1% the first quarter from a year earlier, the first slowing since the fourth quarter of 2020 and just below economists’ estimate of 4.2%, Australian Bureau of Statistics data showed Wednesday. On a quarterly basis, wages grew 0.8% versus a forecast 0.9%.

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