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Australian wages have been in a period of low wage growth for more than a decade. Annual nominal wage growth sat at above or around 3 per cent from the inception of the Wage Price Index in 1997 to 2013.
It took 19 years after the Wage Price Index was established in 1997 before nominal wage growth fell below 2 per cent. Since then, nominal wage growth has averaged just 2.3 per cent.
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