Weekly earnings rise 4.5% as gender pay gap narrows: ABS
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The news: Average weekly earnings increased by 4.5% annually to $1,888.80 in November 2023 on the back of strong wage growth, according to Australian Bureau of Statistics (ABS) figures.
The numbers: Average public sector weekly earnings for full-time adults were $2,183.30 for men and $1,956.80 for women, while private sector averages were $1,946.90 for men and $1,658.30 for women. As a whole, average public sector earnings grew by 4.9%, with private sector up 4.4%.
According to ABS head of labour statistics Bjorn Jarvis, the annual increase of 4.5%, or $81 a week, was the strongest lift since May 2013 — other than a brief spike in average earnings during the start of the Covid pandemic.
The gender pay gap, in terms of average weekly ordinary full-time earnings, narrowed to 12% — down from 13% in May 2023 — and is the lowest level on record.
The context: Jarvis said the average earnings rise reflects strong wage growth, with the Wage Price Index up 4.2% in the year to December 2023. This was the highest annual increase in underlying wage growth since March 2009.
The gender pay gap dropped for the third time in a row, reflecting stronger growth in average full-time earnings for women compared to men on both a six-month and 12-month basis.
The source: ABS release
