For 3rd Quarter
Provided by: Australian Bureau of Statistics

WPI y/y: 3.4%, forecast 3.6%, pr. 3.8% (2Q), 4.2% (1Q), 4.3% (4Q),
4.1% (3Q), 4.2% (2Q), 4.1% (1Q), 4.2% (4Q '07), 4.2% (3Q '07)

Australian wages excluding bonuses increased 0.7% q/q in Q3 2009, as forecast, after a 0.8% q/q advance in Q2, according to the Q3 Australian wage price index released by the Australian Bureau of Statistics. Wage growth eased to 3.4% y/y from Q2's 3.8% y/y, easing Reserve Bank of Australia rate-rise pressures next month. 

For 2nd Quarter
Provided by: Westpac
Previous Release: PDF

WPI y/y: 3.8%, forecast 3.8%, pr. 4.2% (1Q), 4.3% (4Q), 4.1% (3Q),
4.2% (2Q), 4.1% (1Q), 4.2% (4Q '07), 4.2% (3Q '07) 

For 1st Quarter
Provided by: Westpac
Official Release: PDF

WPI y/y: 4.2%, forecast 4.2%, pr. 4.3%, 4.1% (3Q), 4.2% (2Q), 4.1% (1Q),
4.2% (4Q '07), 4.2% (3Q '07) 

From the Release: 

• "The Wage Price Index rose 0.8% in the March quarter, in line with market expectations. That saw annual wages growth ease a touch to 4.2%, down from 4.3% in Q4.
• The slowdown in private sector wages growth, in response to the weaker economic environment, is underway. This comes as no surprise and was expected by the RBA.
• The downward pressure on wages growth is particularly apparent from the broader wage measure - that is, including bonuses. On this basis, annual growth in private sector wages dropped to 3.7%, down from 4.2% in Q4 and well down from a peak of 4.9% back in 2008Q1. The current pace of 3.7% is just a fraction above the historic average of 3.6% (this series dates from 1998).
• With unemployment set to climb above 8% and remain elevated throughout 2010, the outlook is for a further moderation in wages growth."

For 4th Quarter
Provided by: Westpac
Previous Release: PDF

WPI y/y: 4.3%, forecast 3.8%, pr. 4.1% (3Q), 4.2% (2Q), 4.1% (1Q),
4.2% (4Q '07), 4.2% (3Q '07)

For 3rd Quarter
Provided by: Westpac
Current Release: PDF

WPI y/y: 4.1%, forecast 4.2%, pr. 4.2% (2Q), 4.1% (1Q), 4.2% (4Q '07),
4.2% (3Q '07)

An easing of wage price inflation should help give the Reserve Bank of Australia more confidence in their recent rate cuts.

From the Release:

• "The headline Wage Price Index was below consensus in Q3, rising 0.9%qtr (consensus 1.0%) leaving annual growth steady at 4.1%yr for the third consecutive quarter.
• The weaker quarterly result is largely a reflection of the continued saw-tooth pattern over the last two years due to the shifted timing of annual minimum wage decisions. The annual rate is least biased by this timing shift, and remains consistent with the RBA's rhetoric on wage inflation in the November SoMP, with annual growth above its historical average, but not accelerating over the past year.
• The private sector WPI rose 0.9%qtr taking annual growth to 4.2%yr from 4.3%. The public WPI rose 0.9%qtr taking annual growth to 3.7%yr from 3.8%.
• A broader measure than the headline WPI is for total hourly rates of pay including bonuses, which showed a further deceleration to 4.2%yr (vs 4.5% prev) for all sectors, with the private sector pace easing to 4.4%yr (vs 4.8% prev).
• With headline WPI data consistent with the RBA's view, an easing in broader WPI wage measures, and the deteriorating outlook for the labour market, wage growth will remain no constraint on further monetary policy easings." 

For 2nd Quarter
Provided by: Australian Bureau of Statistics

WPI y/y: 4.2%, forecast 4.1%, pr. 4.1% (1Q), 4.2% (4th Q), 4.2% (3rd Q)

The Bureau of Statistics showed that wages exluding bonuses grew 1.2% in the June quarter, the biggest quarterly rise since the series began in 1997. Analysts see the central bank noting the annual increase of 4.2, which is within a manageable and familiar range and does not pose an inflation threa. 

For 1st Quarter
Provided by: Australian Bureau of Statistics

Wage Price Index y/y: 4.1%, forecast 4.3%, pr. 4.2% (4th Q), 4.2% (3rd Q)

Wage inflation in the 1st quarter was lower in Australia than economists had forecast. Quarter-on-quarter the wage price index rose 0.9%, slower than the 1.1% seen in the 4th quarter. The annual pace declined to 4.1%, lower that the previous 2 quarters. Wages had been going up at a fast pace as Australia's commodity export sector is booming and demand for labor was strong. The tight labor market from the 4th quarter may have given way to expectations of a slowdown.   

For 4th Quarter
Provided by: Australian Bureau of Statistics

Wage Price Index y/y: 4.2%, pr. 4.2% (3rd Q)

Australian wages growth accelerated in the 4th quarter. This is another sign to the Reserve Bank of Australia that inflation, which has reached the fastest level since 1991, needs aggressive action. The bank is likely to increase rates from 7%, an 11-year high, when they meet next on March 4th.