<?xml version="1.0" encoding="ISO-8859-1"?> <docID>326434</docID> <postdate>2024-08-13 11:57:40</postdate> <headline>Annual wage growth holds at 4.1 per cent in June</headline> <body><p><img class="size-full wp-image-326435" src="https://citynews.com.au/wp-content/uploads/2024/08/20190515001399429640-original-resized.jpg" alt="" width="900" height="591" /></p> <caption>Tax relief and interest rates may be feeding into improved attitudes towards household incomes. (Dan Peled/AAP PHOTOS)</caption> <p><span class="kicker-line">By <strong>Poppy Johnston</strong> in Canberra</span></p> <p><strong>Wages rose by 4.1 per cent over the year to June, the same result as in March and a little above expectations.</strong></p> <p>The latest Australian Bureau of Statistics figures show wages lifting 0.8 in the three months to June, from a 0.9 per cent rise in March.</p> <p>Consensus forecasts had pencilled in a 0.9 per cent increase over the quarter.</p> <p>The annual growth in wages was 0.3 percentage points higher than the annual inflation rate of 3.8 per cent in June, representing another improvement in worker pay in real terms.</p> <p>Wages have been running ahead of inflation since late 2023.</p> <p>Private sector wages grew 0.7 per cent in the June quarter, down from 0.9 per cent in the three months to March.</p> <p>ABS head of prices statistics Michelle Marquardt said this was the equal lowest rise for any quarter since December quarter 2021.</p> <p>Public sector wages increased 0.9 per cent, up from 0.6 per cent in the March quarter, with all Australian public service employees receiving pay increases in March,</p> <p>Usually, these salary bumps are more sporadic to reflect the timing of individual agency agreements.</p> <p>"The stronger June quarterly rise for the public sector was largely due to the newly synchronised timing pattern of Commonwealth public sector agreement increases," Ms Marquardt said.</p> <p>The bureau's wage price index lands at a critical point in the central bank's price fight.</p> <p>The Reserve Bank of Australia kept interest rates on hold at its August board meeting but struck a hawkish tone, warning inflation was still high and pushing back on expectations of near-term cuts.</p> </body>