The Wage Price Index (WPI) rose 0.7 per cent in the December quarter 2024, and 3.2 per cent over 2024, according to seasonally adjusted data released today by the Australian Bureau of Statistics (ABS).
Michelle Marquardt, ABS head of prices statistics said: "The 0.7 per cent rise this quarter was the equal lowest growth since March quarter 2022. At 3.2 per cent, the annual increase in wages was down from 4.2 per cent in December quarter 2023 and is the equal lowest since September quarter 2022."
| Quarterly (%) | Annual (%) | |
|---|---|---|
| Dec-05 | 1.0 | 4.1 |
| Mar-06 | 1.0 | 4.1 |
| Jun-06 | 1.0 | 4.0 |
| Sep-06 | 0.9 | 4.0 |
| Dec-06 | 1.1 | 4.1 |
| Mar-07 | 1.0 | 4.0 |
| Jun-07 | 1.1 | 4.1 |
| Sep-07 | 1.1 | 4.3 |
| Dec-07 | 0.8 | 4.0 |
| Mar-08 | 1.0 | 4.1 |
| Jun-08 | 1.1 | 4.2 |
| Sep-08 | 1.1 | 4.2 |
| Dec-08 | 0.9 | 4.3 |
| Mar-09 | 0.9 | 4.1 |
| Jun-09 | 0.8 | 3.8 |
| Sep-09 | 0.4 | 3.0 |
| Dec-09 | 0.8 | 2.9 |
| Mar-10 | 1.0 | 3.0 |
| Jun-10 | 0.8 | 3.0 |
| Sep-10 | 1.1 | 3.6 |
| Dec-10 | 1.0 | 3.9 |
| Mar-11 | 0.9 | 3.9 |
| Jun-11 | 0.7 | 3.8 |
| Sep-11 | 0.8 | 3.6 |
| Dec-11 | 1.0 | 3.6 |
| Mar-12 | 1.0 | 3.6 |
| Jun-12 | 0.9 | 3.8 |
| Sep-12 | 0.8 | 3.8 |
| Dec-12 | 0.7 | 3.4 |
| Mar-13 | 0.7 | 3.1 |
| Jun-13 | 0.6 | 2.8 |
| Sep-13 | 0.6 | 2.6 |
| Dec-13 | 0.7 | 2.6 |
| Mar-14 | 0.8 | 2.7 |
| Jun-14 | 0.5 | 2.6 |
| Sep-14 | 0.6 | 2.6 |
| Dec-14 | 0.6 | 2.5 |
| Mar-15 | 0.6 | 2.3 |
| Jun-15 | 0.5 | 2.3 |
| Sep-15 | 0.6 | 2.3 |
| Dec-15 | 0.5 | 2.2 |
| Mar-16 | 0.5 | 2.1 |
| Jun-16 | 0.5 | 2.1 |
| Sep-16 | 0.4 | 1.9 |
| Dec-16 | 0.5 | 1.9 |
| Mar-17 | 0.6 | 1.9 |
| Jun-17 | 0.5 | 1.9 |
| Sep-17 | 0.5 | 2.0 |
| Dec-17 | 0.6 | 2.1 |
| Mar-18 | 0.5 | 2.0 |
| Jun-18 | 0.6 | 2.1 |
| Sep-18 | 0.6 | 2.3 |
| Dec-18 | 0.5 | 2.3 |
| Mar-19 | 0.5 | 2.3 |
| Jun-19 | 0.6 | 2.3 |
| Sep-19 | 0.5 | 2.2 |
| Dec-19 | 0.5 | 2.2 |
| Mar-20 | 0.5 | 2.2 |
| Jun-20 | 0.2 | 1.8 |
| Sep-20 | 0.1 | 1.4 |
| Dec-20 | 0.5 | 1.3 |
| Mar-21 | 0.7 | 1.5 |
| Jun-21 | 0.5 | 1.8 |
| Sep-21 | 0.4 | 2.2 |
| Dec-21 | 0.7 | 2.4 |
| Mar-22 | 0.7 | 2.4 |
| Jun-22 | 0.9 | 2.7 |
| Sep-22 | 0.9 | 3.2 |
| Dec-22 | 0.8 | 3.3 |
| Mar-23 | 1.0 | 3.7 |
| Jun-23 | 0.8 | 3.6 |
| Sep-23 | 1.3 | 4.0 |
| Dec-23 | 1.0 | 4.2 |
| Mar-24 | 0.8 | 4.0 |
| Jun-24 | 0.9 | 4.1 |
| Sep-24 | 0.9 | 3.6 |
| Dec-24 | 0.7 | 3.2 |
- See Interpretation of index numbers, Percentage change and rounding on the Methodology page.
Private sector annual growth (+3.3 per cent) was the lowest since June 2022, while annual wage growth for the public sector (+2.8 per cent) fell below 3 per cent for the first time since the June quarter 2023.
| Private (%) | Public (%) | |
|---|---|---|
| Dec-09 | 2.6 | 4.1 |
| Mar-10 | 2.6 | 4.3 |
| Jun-10 | 2.8 | 4.0 |
| Sep-10 | 3.5 | 4.0 |
| Dec-10 | 3.8 | 4.0 |
| Mar-11 | 4.0 | 3.6 |
| Jun-11 | 3.8 | 3.7 |
| Sep-11 | 3.7 | 3.3 |
| Dec-11 | 3.8 | 3.2 |
| Mar-12 | 3.7 | 3.1 |
| Jun-12 | 3.9 | 3.3 |
| Sep-12 | 3.7 | 3.4 |
| Dec-12 | 3.4 | 3.3 |
| Mar-13 | 3.2 | 3.1 |
| Jun-13 | 3.0 | 2.8 |
| Sep-13 | 2.8 | 2.6 |
| Dec-13 | 2.5 | 2.7 |
| Mar-14 | 2.6 | 2.9 |
| Jun-14 | 2.4 | 2.8 |
| Sep-14 | 2.4 | 2.7 |
| Dec-14 | 2.5 | 2.7 |
| Mar-15 | 2.2 | 2.5 |
| Jun-15 | 2.2 | 2.5 |
| Sep-15 | 2.1 | 2.7 |
| Dec-15 | 2.0 | 2.6 |
| Mar-16 | 2.0 | 2.5 |
| Jun-16 | 2.0 | 2.4 |
| Sep-16 | 1.9 | 2.3 |
| Dec-16 | 1.8 | 2.3 |
| Mar-17 | 1.8 | 2.3 |
| Jun-17 | 1.8 | 2.5 |
| Sep-17 | 1.9 | 2.4 |
| Dec-17 | 1.9 | 2.4 |
| Mar-18 | 1.9 | 2.4 |
| Jun-18 | 2.1 | 2.3 |
| Sep-18 | 2.1 | 2.6 |
| Dec-18 | 2.3 | 2.5 |
| Mar-19 | 2.4 | 2.4 |
| Jun-19 | 2.3 | 2.7 |
| Sep-19 | 2.2 | 2.4 |
| Dec-19 | 2.2 | 2.2 |
| Mar-20 | 2.1 | 2.3 |
| Jun-20 | 1.8 | 2.1 |
| Sep-20 | 1.2 | 1.8 |
| Dec-20 | 1.3 | 1.6 |
| Mar-21 | 1.5 | 1.5 |
| Jun-21 | 1.9 | 1.3 |
| Sep-21 | 2.3 | 1.7 |
| Dec-21 | 2.4 | 2.1 |
| Mar-22 | 2.4 | 2.2 |
| Jun-22 | 2.7 | 2.4 |
| Sep-22 | 3.4 | 2.4 |
| Dec-22 | 3.6 | 2.5 |
| Mar-23 | 3.8 | 2.9 |
| Jun-23 | 3.9 | 3.1 |
| Sep-23 | 4.3 | 3.5 |
| Dec-23 | 4.2 | 4.3 |
| Mar-24 | 4.2 | 3.8 |
| Jun-24 | 4.1 | 3.9 |
| Sep-24 | 3.5 | 3.7 |
| Dec-24 | 3.3 | 2.8 |
- See Interpretation of index numbers, Percentage change and rounding on the Methodology page.
Quarterly wage growth in the private sector was 0.7 per cent, lower than 0.9 percent in the December quarter 2023, and the equal lowest rise since the March quarter 2022.
Compared to the December quarter 2023, the private sector saw a drop in both the proportion of jobs with a wage movement (+14 per cent compared to +16 per cent), and the average hourly wage change (+3.7 per cent compared to +4.4 per cent).
"This was the smallest proportion of jobs with a change in wages for the private sector in a December quarter since 2019," Ms Marquardt said.
| Average hourly wage change (%) | Proportion of jobs (%) | |
|---|---|---|
| Dec-14 | 2.6 | 18 |
| Mar-15 | 2.7 | 16 |
| Jun-15 | 2.7 | 12 |
| Sep-15 | 2.7 | 40 |
| Dec-15 | 2.7 | 15 |
| Mar-16 | 2.3 | 17 |
| Jun-16 | 2.5 | 12 |
| Sep-16 | 2.5 | 40 |
| Dec-16 | 2.5 | 12 |
| Mar-17 | 2.4 | 15 |
| Jun-17 | 2.6 | 10 |
| Sep-17 | 2.9 | 40 |
| Dec-17 | 2.6 | 13 |
| Mar-18 | 2.5 | 16 |
| Jun-18 | 2.5 | 13 |
| Sep-18 | 3.0 | 42 |
| Dec-18 | 2.8 | 15 |
| Mar-19 | 2.7 | 15 |
| Jun-19 | 2.6 | 11 |
| Sep-19 | 2.9 | 42 |
| Dec-19 | 2.8 | 13 |
| Mar-20 | 2.6 | 16 |
| Jun-20 | 0.8 | 9 |
| Sep-20 | 2.4 | 21 |
| Dec-20 | 2.7 | 17 |
| Mar-21 | 2.3 | 26 |
| Jun-21 | 2.7 | 12 |
| Sep-21 | 2.9 | 34 |
| Dec-21 | 2.8 | 23 |
| Mar-22 | 3.4 | 15 |
| Jun-22 | 3.8 | 14 |
| Sep-22 | 4.3 | 46 |
| Dec-22 | 4.0 | 21 |
| Mar-23 | 4.3 | 14 |
| Jun-23 | 4.5 | 12 |
| Sep-23 | 5.8 | 49 |
| Dec-23 | 4.4 | 16 |
| Mar-24 | 4.4 | 12 |
| Jun-24 | 4.2 | 11 |
| Sep-24 | 3.9 | 49 |
| Dec-24 | 3.7 | 14 |
- Average hourly wage change only includes jobs recording a wage movement in the current quarter
Wages in the public sector rose 0.6 per cent in the December quarter 2024, lower than the 1.4 per cent rise in the December quarter 2023.
"The public sector contributed a quarter of total wage growth, compared to 34 per cent in the December quarter 2023."
"This drop in contribution was driven by the timing of some agreements shifting to outside the December quarter this year, other agreements have expired or have smaller increases compared to the same time in 2023," Ms Marquardt said.
| Private | Public | |
|---|---|---|
| Dec-18 | 0.36 | 0.15 |
| Dec-19 | 0.34 | 0.10 |
| Dec-20 | 0.42 | 0.06 |
| Dec-21 | 0.45 | 0.16 |
| Dec-22 | 0.64 | 0.18 |
| Dec-23 | 0.63 | 0.33 |
| Dec-24 | 0.48 | 0.16 |
The main industry contributors to the quarterly rise were jobs in Health care and social assistance, followed by Manufacturing and Construction.
