Australia Q3 Wage Price Index is due Wednesday — preview

Due at 0030 GMT on Wednesday 15 November 2017 Join me then!
This via ANZ:

  • The wage price index is set to tick up in Q3 given the boost from the larger-than-usual minimum wage rise. We expect a rise of 0.6% in the quarter with the risks tilted towards to a stronger rise. This would leave wages 2.2% higher over the year

—And, more detail from ANZ on the data due, if you are interested (bolding mine):

  • Wages will be a focus … with more than the usual attention, given that the Q3 wage price index will be boosted by the 1 July increase in the minimum wage — to say nothing of the importance of wage trends for the monetary and fiscal policy outlooks.
  • The Fair Work Commission lifted the minimum wage by 3.3%, which is significantly higher than last year’s rise of 2.4% and the largest increase since 2011 (Figure 3)

  • More workers will be directly affected by the increase than in recent years, with nearly a quarter of employees now receiving award wages, up from a low of 15% in 2010. (At the same time the number of employees covered by enterprise bargaining agreements has fallen from above 20% to 13%).

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