Change in annual private sector wages growth (trend)

-0.25

-0.20

-0.15

-0.10

-0.05

0.05

0.10

0.15% pts

Mar 11

Jun 11

Sep 11

Dec 11

Mar 12

Jun 12

Sep 12

Dec 12

Mar 13

Jun 13

Sep 13

Dec 13

Mar 14

Jun 14

Sep 14

Dec 14

Mar 15

Jun 15

Sep 15

Dec 15

Mar 16

Jun 16

Sep 16

Dec 16

Mar 17

Jun 17