Wage prices in Australia were up a seasonally adjusted 0.1 percent on quarter in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday – shy of expectations for an increase of 0.2 percent, which would have been unchanged from the Q2 reading.

On a yearly basis, wage prices rose 1.4 percent – again missing forecasts for 1.5 percent and slowing from 1.8 percent in the three months prior.

Private sector wages were up 0.1 percent on quarter and 1.2 percent on year, while public sector wages gained 0.2 percent on quarter and 1.8 percent on year.

Wage gains from health care and social services offset losses among administrative and support services.

The material has been provided by InstaForex Company – www.instaforex.com

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