EN News Brief
Summary
Australian wage growth held steady at 3.4% over the year to September, slightly outpacing inflation and delivering a small increase in purchasing power for workers. However, economists warn this period of real wage growth is likely ending, with real wages expected to fall next year as inflation rises. Public sector wage growth was significantly stronger than in the private sector.
Key Points
- Wage vs. Inflation: Wage Price Index rose 3.4%, just ahead of the 3.2% consumer price inflation.
- Outlook: Economists from JP Morgan and the Reserve Bank forecast real wages (adjusted for inflation) will fall in the coming quarters as inflation is expected to outpace pay rises.
- Public Sector Lead: Public sector wages grew 3.8%, driven largely by state government employees. Private sector wages grew 3.2%.
- RBA Comfort: The data, particularly the softer private sector growth, is seen as reassuring for the Reserve Bank that wage pressures are not significantly fueling inflation.
- Total Pay: A separate measure of total wages and salaries paid (including bonuses) grew 5.3% annually, down from 6.1% the previous year.
中文新闻简报
总结
截至9月份的一年中，澳大利亚工资增长率稳定在3.4%，略高于通货膨胀率，为工人的购买力带来了小幅提升。然而，经济学家警告称，这段实际工资增长的时期可能即将结束，随着通胀上升，预计明年实际工资将再次下降。公共部门的工资增长明显强于私营部门。
关键点
- 工资与通胀对比： 工资价格指数上涨3.4%，略高于3.2%的消费者价格通胀率。
- 未来展望： 摩根大通和澳大利亚储备银行的经济学家预测，随着通胀预计将超过工资涨幅，未来几个季度的实际工资（经通胀调整后）将会下降。
- 公共部门领先： 公共部门工资增长3.8%，主要由州政府雇员推动。私营部门工资增长3.2%。
- 储备银行的安慰： 这些数据，特别是较弱的私营部门增长，让澳大利亚储备银行感到些许安慰，认为工资压力并非显著推高通胀的主要因素。
- 总薪酬： 另一项衡量总工资和薪金支付（含奖金）的指标年增长率为5.3%，低于上一年的6.1%。
Original Article Link: https://www.abc.net.au/news/2025-11-19/abs-wage-price-index-figures-released-september-quarter/106026360