Common weekly earnings hit decade excessive

Common weekly abnormal time earnings for full-time adults skilled a big rise, marking essentially the most strong annual development in a decade, based on the most recent ABS figures.

“The annual improve of 4.5%, or $81 every week, was the strongest since Could 2013, aside from a short spike in common earnings early within the COVID-19 pandemic,” mentioned Bjorn Jarvis (pictured above), ABS head of labour statistics.

Wage worth index help

The surge in common earnings is supported by a rise within the wage worth index, which climbed by 4.2% within the yr to the December quarter. This charge signifies the best annual rise in underlying wage development for the reason that March quarter of 2009. Each the personal sector, with a 4.4% rise, and the general public sector, up by 4.9%, contributed to the expansion.

Narrowing gender pay hole

The gender pay hole in common weekly abnormal full-time earnings additionally noticed a discount, narrowing, from 13% to 12% – the bottom stage recorded.

“This was the third drop within the gender pay hole in a row, right down to a brand new document low,” Jarvis mentioned in a media launch. “This narrowing within the hole mirrored stronger development in common full-time earnings for girls, 3.5% over the previous six months, in contrast with 2.3% for males. Annual development was additionally extra pronounced for girls at 5.5%, in contrast with 4% for males.”

Regional and business disparities

The disparity in common weekly earnings throughout areas and industries stays evident, with the best wages reported in Western Australia ($2,108) and the Australian Capital Territory ($2,080). The bottom have been recorded in Tasmania ($1,670) and South Australia ($1,735).

The mining business continued to guide in common earnings, at $2,952 every week for full-time workers, whereas the lodging and meals providers ($1,397) and retail commerce industries ($1,435) lagged.

Half-time earnings development

Common earnings for part-time workers additionally skilled important development, contributing to a 3.9% improve in common earnings for all workers in November 2023.

“The gender pay hole for all workers, together with each full-time and part-time workers, is far bigger than the full-time measure, with girls extra prone to work part-time,” Jarvis mentioned. “That record-low hole was 28.1% in November 2023, down from 28.6% in Could 2023.”

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