By Stella Qiu

SYDNEY (Reuters) -Australia’s annual wage growth steadied in the June quarter after more than a year of declines, led in large part by gains in the public sector, implying a solid rise in real earnings that should support consumer spending.

Figures from the Australian Bureau of Statistics on Wednesday showed its wage price index rose 0.8% in the second quarter, dead in line with market forecasts.

Annual pay growth held steady at 3.4%, having dropped from 4.1% the same time a year earlier. Wages in the private sector rose 3.4%, while those in the public sector increased 3.7% as backdated pay rises came into effect.

“The labour market is softening, which will ultimately weigh on wage growth. But we are not quite there yet,” said Sean Langcake, Head of Macroeconomic Forecast

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