Private sector wages are growing at the lowest rate in more than two and a half years as the cooling jobs market tempers pay negotiations.
Moderating wage pressures may come as a relief for an RBA preoccupied by persistent inflation and companies cutting costs, but Treasurer Jim Chalmers was celebrating "encouraging" wage growth.
The latest Australian Bureau of Statistics figures show average private sector wages rising 0.7 per cent in the June quarter, compared to 0.9 per cent in the March quarter.
