Wages Up 5%
This week the ABS released Average Weekly Earnings for the December quarter 2005. AWOTE is up 5.0% for the year in seasonally adjusted terms. Wages have been tracking well ahead of prices for each of the past 10 years now, except for the 6% blip of CPI in 2000 when GST was introduced. The 10 year average for AWOTE is 4.5%pa compared to CPI of 2.4%pa. Over the 104 years of FinDem?s inflation data, wages have increased by 5.4%pa and prices by 3.9%pa for a ?real? wage increase rate of 1.5%pa. You can study trends in these statistics in our Research Centre either through Data Series Graphing or Inflation Calculators.
Posted Saturday, 25 February 2006
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