Commonwealth Bank data indicates that wage growth in Australia remained stable in early 2026. According to the latest figures, wages rose by 0.7 per cent over the three months leading up to February, resulting in an annual increase of 3.1 per cent. These figures suggest that wage growth has yet to respond significantly to the tighter labour market conditions observed throughout late 2025 and early 2026. CBA, or Commonwealth Bank, is one of Australia’s largest banks, providing a range of financial services to individuals and businesses. They regularly publish economic data and analysis.
Belinda Allen, head of Australian economics at CBA, noted that the stability in wage growth should provide some reassurance to the Reserve Bank. This comes amid ongoing concerns about potential inflation driven by rising energy prices. The steadiness of wage increases may alleviate some pressure on the Reserve Bank as it navigates the current economic landscape. The figures also highlighted the resilience of employment growth.
CBA estimates that approximately 21,000 jobs were added in February, with the unemployment rate remaining steady at 4.1 per cent. These figures indicate a stable employment environment, despite broader economic challenges. Across different regions, Western Australia recorded the strongest wage growth at 3.8 per cent for the year, although this was slightly down from 4.2 per cent in January.
In contrast, the Northern Territory experienced the weakest wage growth, registering at 2.7 per cent. The regional variations highlight the diverse economic conditions across Australia. The data from Commonwealth Bank provides a snapshot of the current wage and employment landscape, offering insights for policymakers and businesses alike.
