Weekly earnings growth slows in May

Earnings growth slows in first half of 2024

Weekly earnings growth slows in May

News

By Mina Martin

Average weekly earnings for full-time adults grew by 1.8% in the six months to May, down from 2.8% in the previous half-year, ABS reported.

“While growth slowed, we still saw relatively strong annual growth of 4.6%,” said Kate Lamb, ABS head of labour statistics.

Gender pay gap narrows to record low

The gender pay gap for full-time workers narrowed to a record low of 11.5%, down from 12% in November 2023.

Lamb credited the decline to wage increases in female-dominated industries like education and training.

“This is the fourth consecutive drop in the gender pay gap,” she said.

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Highest and lowest paid workers by region and industry

Workers in the Australian Capital Territory earned the most, with an average of $2,132 per week, while Tasmanian workers earned the least at $1,711.

The mining industry continued to top the wage charts with an average of $3,015 per week, while the lowest earnings were found in accommodation and food services ($1,421).

Part-time workers see strong growth

Part-time employees experienced significant wage growth over the past year, pushing the average earnings for all employees up by 5.8%, ABS figures showed.

“The gender pay gap for all employees, including part-time, also dropped to a record low of 27.7%,” Lamb said.

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