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Supply Factors: Real Unit Labour Costs

The wage price index is a measure of the increase in wage costs for businesses.  As wage pressures increase, this figure will be higher, suggesting that business costs are increasing.  As a result, at this time we would expect to see pressure on aggregate supply in this country.

The wage price index is made available on the Reserve Bank's website.

Year Wage Price Index (%)
1998/9 3.1
1999/00 2.8
2000/01 3.7
2001/02 3.2
2002/03 3.6
2003/04 3.5
2004/05 4.2
2005/06 4.1
2006/07 4.0
2007/08 4.1
Wage price index - Australia

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