Australia's Wage Growth Slows but Outpaces Inflation

Despite real wage increases, economic concerns persist as interest rate cuts remain uncertain.

Wages in Australia grew by 3.5% over the past year, surpassing the 2.8% inflation rate.
Real wages have increased for four consecutive quarters, marking the highest growth since 2020.
The Reserve Bank of Australia (RBA) faces pressure to cut interest rates, with wage growth slowing and no signs of a wage-price spiral.
Public sector wages saw a larger increase than private sector wages for the first time since 2020.
Despite wage growth, many Australians feel financial strain due to high mortgage costs and past inflation impacts.