Annual wage growth has now increased for seven consecutive quarters, according to the latest data from the Australian Bureau of Statistics.
After falling to a record low of 1.4% during 2020, annual wages growth has steadily climbed to 3.1%:
* Dec 2020 = 1.4%
* Mar 2021 = 1.5%
* Jun 2021 = 1.8%
* Sep 2021 = 2.2%
* Dec 2021 = 2.3%
* Mar 2022 = 2.4%
* Jun 2022 = 2.6%
* Sep 2022 = 3.1%
Coincidentally, this 3.1% figure is identical to the long-term average since 1998 (when the ABS started recording wage growth).
So the current wage growth figure is neither high nor low by historical standards.