The wage price index, which measures changes in the price of labour, rose 0.9% for the December 2023 quarter, according to the latest data from the Australian Bureau of Statistics (ABS).
This was the highest quarterly increase since March 2009 and meant that average wages rose 4.2% for the whole of 2023.
Both public and private sectors saw increases, with public sector wages rising 4.3% over 2023 and private sector increasing 4.2% for the year.
This is the first time since December 2020 that the public sector has overtaken the private sector.
“For both the public and private sector, wages growth was driven by organisation-wide annual wage and salary reviews,” said ABS head of prices statistics Michelle Marquardt.
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