Aussie real average earnings still below 2013 levels

The Australian Bureau of Statistics (ABS) has released the Average Weekly Earnings (AWE) data for the six months to May 2019. A breakdown of the key changes are provided below:

According to the ABS, on a seasonally-adjusted basis, national total AWE increased by 1.0% in the six months to May 2019 and by 2.2% year-on-year.

A time series of annualised average weekly earnings is shown below. According to the ABS, the average Australian earned $64,371 per annum as at May 2019, with the average full-time worker earning $88,249:

However, when compared against underlying (core) inflation, real average weekly earnings rose by 1.1% over the past year and is now just 0.1% below May 2013 levels:

Leith van Onselen

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

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