In a significant milestone, Australian full-time workers are now earning an average of over $2000 per week, a first in the nation’s history. Recent data from the Australian Bureau of Statistics (ABS) reveals that as of May, the average ordinary full-time earnings reached $2011.40 before tax, marking a 4.5 per cent increase from the previous year.
This figure accounts for earnings during standard working hours and excludes overtime pay. Notably, there are disparities in earnings based on gender; men earned an average of $2106.40 per week, while women received $1864.10, resulting in a slight narrowing of the gender pay gap from 11.9 per cent to 11.5 per cent.
Sean Crick, ABS head of labour statistics, highlighted the significance of surpassing the $2000 mark, stating the yearly growth remained robust at 4.5 per cent, translating to an additional $86.60 per week compared to May 2024.
In terms of geographic differences, workers in the Australian Capital Territory (ACT) earned the highest average weekly earnings of $2236, followed closely by Western Australia at $2154. Conversely, Tasmanian workers reported the lowest average at $1793. The mining industry boasts the highest salaries, averaging $3174 per week, while those in accommodation and food services earned the least, at $1459.
When comparing public and private sectors, workers in the public sector earned a weekly average of $2167, surpassing private sector earnings, which averaged $1966.
Additionally, the unemployment rate has dropped to 4.2 per cent as of July, following a slight increase in the previous month. The job market saw a boost, with 25,000 Australians securing employment this month, reflecting a notable rise in female workforce participation. This positive trend indicates a strengthening labour market and continued economic growth in Australia.