Wages growth...meh

Wages miss badly

Wages increased only 0.65 per cent in the March quarter, badly missing expectations of 0.8 per cent growth. 

Wages increased 2.35 per cent over the year (and barely any more including bonuses).

This is not exactly a graph which is screaming the need for interest rate hikes.

With real wages sitting at negative 2.7 per cent, households probably don't need an increase in mortgage costs to dampen consumer demand! 

Private sector wages rose 0.65 per cent for the quarter, while public sector wages growth really was dismal at only 0.56 per cent.

The ACT and Tasmania topped the charts with 2.8 per cent growth over the year, with the Northern Territory bottom of the pile in recording only 1.9 per cent wage price growth.

Apparently we need to hike interest rates urgently, though, to bring down energy prices, or something. 

Meh.