Australian workers likely experienced wage growth in Q1 despite a softening jobs market.

Australian workers have likely experienced robust wage growth in the year's start, despite a softening jobs market. The March quarter wage price index and April labour force report are scheduled for release this week, with wages growing due to a tight labour market and strong public sector pay decisions (0.9% in December quarter, 4.2% for the year). The April jobs data will follow March's unemployment rate increase to 3.8% from 3.7%. Australia's labour market has shown resilience amidst economic slowdown.

May 12, 2024
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