New data released by the ABS today shows that annual wages have grown above three per cent for 14 quarters in a row.
This is the longest streak of wages growth above three per cent in more than a decade and a half.
There was not one quarter in the 35 quarters of the former Government when nominal wages grew above three per cent.
The wage price index grew 0.8 per cent in the quarter to be 3.4 per cent higher through the year.
With inflation higher than we would like, partly due to temporary factors, annual real wages, as measured by the difference in the quarterly wage price index and quarterly consumer price index, fell 0.2 per cent through the year to the December quarter 2025.
While we would have liked to have seen real wage growth, today’s result is better than what we inherited.
When we came to Government, real wages were going backwards 3.5 per cent and fell for the five quarters leading up to when we were elected.
The overwhelming story of this Government has been one of real wage growth.
Today’s figures come after annual real wages grew for two consecutive years, the longest period of consecutive growth in more than a decade.
Our economic plan is all about helping Australians earn more, keep more of what they earn and retire with more and these figures show our efforts are making a meaningful difference.
Workers are earning much higher nominal wages now than they were a few years ago, and that’s thanks to the progress Australians have made together on the economy.
One of the best ways to help people with the cost of living is to boost wages for workers, and that’s been a big focus for the Albanese Government.
Wage growth was anaemic and real wages were going backwards when we came to office after the Liberals’ deliberate policy of wage stagnation and suppression but we’ve turned that around.
The strong and sustainable wages growth we’ve seen in the past few years is a direct result of Labor’s policies.
We’re acting to boost wages, close the gender pay gap, deliver workplace relations reforms and secure pay rises for some of the lowest paid workers in our community.
Under Labor, economic growth is picking up, business investment is strengthening, about 1.2 million jobs have been created, unemployment is low, participation is at near record highs, debt is down and the budget is stronger but we know there are big challenges too.
We’ve made a lot of progress together on the economy but the job’s not done because inflation is too high and people are still under pressure.
That’s why we continue to address inflation and roll out responsible cost‑of‑living relief at the same time as we modernise Australia’s economy.
The three big economic priorities for the Albanese Government this year and in the Budget are addressing inflation, productivity and global uncertainty, and sustainable wages growth is a part of that.