In the media | 18 May 2023

Australian wage growth held steady in Q1, increasing by 0.8% q/q. This has taken the y/y pace of growth to 3.7%.

Sean Langcake

Head of Macroeconomic Forecasting, OE Australia

Head of Macroeconomic Forecasting at Oxford Economics Australia Sean Langcake speaks on the recent WPI data release in Australia with Sky News, noting that wage growth held steady in Q1, increasing by 0.8% q/q which has taken the y/y pace of growth to 3.7%.

The remarkably tight labour market has delivered relatively brisk wage growth over the past four quarters. Looking ahead, quarterly outcomes are likely to stay within this range while the unemployment rate is below 4%.

Watch Sean’s full interview with Sky News’ Ross Greenwood below:

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