Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Continued low growth in average earnings

Published 21/02/2019, 12:44 pm
Updated 21/02/2019, 12:44 pm
© Reuters.  The averge weekly ordinary earnings for Australians rose 1.2% in the past 6 months

The average weekly ordinary time earnings for full-time adults in Australia in November 2018 was $1,604.90 (trend), according to new Australian Bureau of Statistics (ABS) figures released today.

This was an increase of 1.2 per cent over the last six months and an annual increase of 2.4 per cent.

Bruce Hockman, Chief Economist at the ABS, said: "This latest data points to ongoing low growth in average earnings with the annual increase in line with the Wage Price Index data released yesterday. The growth of 1.2 per cent for the last six months is the same as it was at May 2018."

"Over the year, average weekly ordinary time earnings for full-time adults in the private sector increased by 2.3 per cent and public sector by 2.6 per cent, with the average earnings in the public sector remaining higher than in the private sector."

Mr Hockman said, that in original terms, the Australian Capital Territory continued to be the state or territory with the highest average weekly ordinary time earnings for full-time adults at $1,813.30, while mining remained the leading industry at $2,611.70.

"Meanwhile, Tasmania remained the state or territory with the lowest average weekly ordinary time earnings for full-time adults at $1,399.50 while accommodation and food services continued to be the lowest paid industry on average at $1,161.00," said Mr Hockman.

Percentage movements in average weekly earnings can be affected by changes in both the level of earnings per employee and in the composition of the labour force. Factors which can contribute to compositional change include variations in the proportion of full-time, part-time, casual and junior employees; variations in the occupational distribution within and across industries; and variations in the distribution of employment between industries.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.