The Australian Bureau of Statistics (ABS) released their latest wage figures today, revealing a seasonally adjusted 0.6 per cent rise in the Wage Price Index (WPI) during the December quarter 2014.
The slight rise during the December quarter brings the year on year growth to 2.5 per cent, the lowest since the Government records on wages began in 1997.
The December quarter rise was the third in a row to receive a 0.6 per cent reading, highlighting an unfortunately stable rate of wages growth.
The private sector saw a 0.6 per cent rise in the December quarter, while the public sector managed a 0.7 per cent climb. Over the last year, the public sector grew 2.7 per cent, 0.2 per cent more than the private sector.
The largest quarterly wage rise was seen by the Information media and telecommunications industry, which hit a 1.2 per cent rise due to December quarter pay increases. The accommodation and food services industry saw the smallest rise, up 0.2 per cent during the December quarter.