Wages rise by 0.5% in March quarter

Total hourly rates of pay, excluding bonuses, rose by 0.5 per cent in the March quarter, undershooting market expectations of a 0.6 per cent rise.

Wages lifted 2.3 per cent in the 12 months to March 31, according to the seasonally adjusted wage price index from the Australian Bureau of Statistics on Wednesday.

The Australian dollar dipped after the figures were released, falling to 69.26 US cents, but climbed to 69.35 US cents by 11:38 AEST.

AAP

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