The ABS today released its annual Australian Industry report covering the 2013-14 financial year, which includes estimates at a sub-industry level of employment, detailed income and expenses information, and profits.
CommSec has taken the time to disaggregate the data, and has revealed that the resources sector contained the four highest paid industries in Australia in 2013-14:
Across industries, the average wage was around $60,000 in 2013-14, with 10 industry sectors recording an annual wage above $100,000. Again, the resources sector dominated the high-paying industries, taking-out the top four spots, with each earning more than two-to-three times the average wage.
Obviously, with the commodity crash underway, along with the pending collapse of mining investment, wages in the resources sector should fall dramatically.
Other things equal, this will also help to pull down average wages across all industries, adding to Australia’s income shock.