Australia Wage Price Index Climbs 0.8% In Q3

RTTNews | 10 days ago
Australia Wage Price Index Climbs 0.8% In Q3

(RTTNews) - The wage price index in Australia was up a seasonally adjusted 0.8 percent on quarter in the third quarter of 2024, the Australian Bureau of Statistics said on Wednesday.

That was unchanged from the previous three months, although it was shy of expectations for an increase of 0.9 percent.

Both the private sector and the public sector rose 0.8 percent for the quarter.

The largest industry contributors to quarterly wages growth were healthcare and social assistance (+1.7 percent), retail trade (+2.1 percent), and administrative and support services (+2.1 percent).

On a yearly basis, wage prices were up 3.5 percent - again short of forecasts for 3.6 percent and down from 4.1 percent in the second quarter.

read more
RBA Vigilant To Upside Risks To Inflation, Minutes Show

RBA Vigilant To Upside Risks To Inflation, Minutes Show

The Reserve Bank of Australia remained vigilant to upside risks to inflation and the board affirmed that the policy would need to be sufficiently restrictive until inflation moves sustainably towards the target, the minutes of the policy board meeting held on November 4 and 5 showed Tuesday.
RTTNews | 4 days ago
Australia Jobless Rate Steady At 4.1% In October

Australia Jobless Rate Steady At 4.1% In October

The unemployment rate in Australia came in at a seasonally adjusted 4.1 percent in October, the Australian Bureau of Statistics said on Thursday - unchanged from the previous month and in line with expectations.
RTTNews | 9 days ago
Australia NAB Business Confidence Strengthens; Conditions Remain Stable

Australia NAB Business Confidence Strengthens; Conditions Remain Stable

Australia's business confidence strengthened notably in October on improvements across all industries except construction and retail, survey data from NAB showed on Tuesday. The business confidence index rose to +5 from -2 in September. At the same time, the business conditions index was unchanged at 7 in October. Trading conditions edged up one point to +13, while profitability was flat at 5.
RTTNews | 11 days ago
Australia Building Approvals Rise 4.4% In September

Australia Building Approvals Rise 4.4% In September

The total number of building approvals issued in September was up a seasonally adjusted 4.4 percent on month, the Australian Bureau of Statistics said on Friday - coming in at 14,842.
RTTNews | 16 days ago
Australia Holds Interest Rate At 13-Year High

Australia Holds Interest Rate At 13-Year High

Australia central bank maintained its interest rate for the eighth straight session at a 13-year high on Tuesday as underlying inflation remains too high. The policy board of the Reserve Bank of Australia governed by Michele Bullock decided to hold the cash rate target at 4.35 percent. The bank had previously changed its rate in November 2023, when it was lifted by 25 basis points.
RTTNews | 18 days ago