Public sector wages increased faster than private sector pay for the first time in four years in September as a slowing jobs market drove salary growth to an almost two-year low.
Annual wage growth fell to 3.5 per cent in September from 4.1 per cent in June, the Australian Bureau of Statistics (ABS) said on Wednesday, as pay growth slowed on the back of a cooling economy.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
