Australia's wage index fell below expectations in the first quarter of 2018, raising doubts about the ability of wages to help boosting household spending and inflationary pressures, as well as restoring the surplus to the federal budget.
Hourly wages, excluding bonuses, rose by 0.47% from expectations of a 0.6% rise.
In the private sector, wages rose by 0.47%, almost the same as in the last four quarters. In the public sector, it rose by 0.54%, down from 0.62% in the last quarter of 2017. On an annualized basis, wages rose by 2.07% in the first quarter of 2018 compared to 2.08% in the fourth quarter of last year.
