RTTNews - Tuesday, a report from the Melbourne Institute said the total pay rise of workers in Australia slowed to 3.3% in the twelve months ended May. Respondents are expecting a 2.6% increase in pay over the next 12 months.
Edda Claus, Research Fellow at the Melbourne Institute said similar outcomes for the total pay and hourly wages rates were consistent with a cooling labor market.
In the twelve months ended May, South Australia or SA had the highest growth in total pay and basic hourly wages, while the lowest growth was seen in the Australian Capital Territory or ACT.
With CPI inflation at 2.3% in Adelaide and 2.7% in Canberra in the March quarter 2009, this means that real wages rose about 2% in South Australia and declined over 7% in the ACT, Claus added.
The Melbourne Institute's (Quarterly) Wages Report reports pay changes over the preceding 12-month period and pay expectations for the next 12 months. The report gives information on dispersion of pay changes across individuals and the extent to which the pay of some groups has risen more than others.
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