SYDNEY, May 15 (Reuters) - Australian wage growth unexpectedly slowed from a 15-year high in the first quarter, likely marking the peak for this cycle and another sign the labour market was finally starting to loosen.
Figures from the Australian Bureau of Statistics on Wednesday showed the wage price index rose 0.8% in the March quarter, missing market forecasts for a 0.9% rise. It was the smallest increase since late 2022.
Annual pay growth ticked down to 4.1%, from 4.2%, again under expectations. Growth in the private sector showed the first fall since the third quarter of 2020. (Reporting by Wayne Cole; Editing by Himani Sarkar)
