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The treasurer Jim Chalmers has released treasury research of ABS data showing the wage price index increased 1% in the September quarter, up 3.1% through the year.
That is the fastest through‑the‑year growth rate since the March quarter of 2013, well above the annual average growth rate of 2.2% over the past five years and 2.3% over the past decade.
Our economic plan is all about getting wages growing again, and it’s already starting to work. If there is one thing that drives this whole government, it’s our ambition to deliver the decent wages that Australians need and deserve. The best way to deal with cost of living pressures is to help ensure ordinary Australian workers can earn enough to provide for their loved ones and get ahead.
We are really pleased to see the beginnings of wages growth after a decade of deliberate wage stagnation and suppression under our predecessors. We don’t have an inflation challenge in our economy because wages are too high, we have an inflation problem because of a war in Ukraine, pressure on global supply chains, and other challenges ignored for too long. We said we’d get wages moving again in responsible ways and we are.
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