Continued low growth in average earnings By Australian Bureau of Statistics



© 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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

We will be happy to hear your thoughts

Leave a reply