Wages growth for Queensland's private sector is now slowly starting to ramp up. Latest data by the ABS reveals:
- Queensland wages grew by 2.3% across 2018 and compares to the decade average rate of 2.8%. National wages growth across 2018 was also of 2.3%;
- This compares to latest inflation numbers for Brisbane of 1.5%;
- The influence of Queensland's public sector wage rises is now starting to reside and come back to the broader trend being experienced in the State's private sector;
- Wages growth for our State's public sector was 2.4% and compares to private sector growth of 2.3%;
- Pleasingly the private sector growth is the highest level of increase for the past three years;
- Wages growth is highly linked to economic growth. The difficulty that Queensland's economy has experienced since the resources investment boom is evident in lower wages growth compared to other States;
- For example the difference between Queensland’s average weekly ordinary time earnings and Australia’s in 2013 was $12.10. In 2018 due to lower wages growth the gap has increased to $34.90. That is, because we have not kept up with national wages growth, Queenslanders have fallen behind to the tune of $1,185.60 each year.
- The overall outlook for wages growth indicates it will continue to experience modest improvement in line with a broader improvement in the labour market.
