Labor Market Robust During Second Quarter

Wage growth remained robust in the second quarter, as the Labor Cost Index printed in line with expectations of a 0.7 percent increase in private sector salary and ordinary time wages.

However, the wage growth statistics measured by Quarterly Employment Survey fell short of forecasts, with the Q2 private sector ordinary time earnings rising by 1 percent versus and expected 1.7 percent.

ANZ Commodity Price (JUL)[/B]
Expected: n/a
Previous: 6.1%

Labor Cost All Wages Private Sector (QoQ) (2Q)[/B]
Actual: 0.8%
Previous: 0.6%

[B]Labor Cost Private Sector (QoQ) (2Q)
[/B]Actual: 0.7%
Previous: 0.7%

See DailyFX Weekly Calendar for more detail.