Wage agreements slip to 2.7 pct annually

Annual wage increases secured under enterprise bargaining agreements in the March quarter averaged 2.7 per cent, above the rate of inflation but below the 3.1 per cent for those struck in the December quarter.

Department of Employment figures released on Monday showed agreements made in the private sector came in at an average annualised 2.7 per cent in the March quarter, down from three per cent previously, while public sector settlements dropped 0.8 percentage points to 2.4 per cent.

More up to date wages figures are released on Wednesday, which are expected to show annual growth remaining at a two-decade low of 1.9 per cent in the June quarter and in line with the rate of inflation.