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The Average Weekly Earnings data from the Australian Bureau of Statistics has revealed new insight from the seasonally adjusted figures released yesterday (Thursday, 15 August).
The average weekly earnings for full-time working adults across Australia in May 2024 stands at $1,923.40, according to the new data compiled by the Australian Bureau of Statistics. Various figures were included throughout the release, including industry rates, gender pay gap findings, and locational figures.
On the data, Kate Lamb, ABS head of labour statistics, said: “Average weekly earnings growth over the six months to May 2024 was 1.8 per cent, around two-thirds of the 2.8 per cent growth we saw over the six months to November 2023.”
“While growth in average weekly earnings slowed over the first half of 2024, we still saw relatively strong annual growth to May 2024 of 4.6 per cent, or an extra $85 a week. This was slightly higher than the 4.5 per cent or $81 in the year to November 2023.”
“This growth was underpinned by rises in both the private and public sectors, which both grew by 4.6 per cent annually.”
Regarding the gender pay gap figures, in terms of the average weekly ordinary full-time earnings, the gap narrowed further down to 11.5 per cent, from 12.0 per cent back in November 2023.
“This was the fourth six-monthly drop in the gender pay gap in a row, down to a new record low of 11.5 per cent. The narrowing in the gap in May 2024 was underpinned by pay increases in the female-dominated education and training industry,” said Lamb.
“The gender pay gap for all employees, including both full-time and part-time employees, is much larger than the full-time measure, with women more likely to work part-time. The gender pay gap for all employees also dropped to a record low of 27.7 per cent in May 2024, down from 28.0 per cent in November 2023.”
Public administration and safety and other services had the lowest gender pay gap for average weekly earnings among the industries listed in the data. As WGEA reporting now applies to both the public and private sector, it is hoped that the more egregious gender pay gaps that exist in various industries will eventually disperse.
Although that reporting holds organisations and industries accountable, influential stakeholders are the key to fast-tracking the need for progress in relation to the gender pay gap.
“WGEA reporting on its own will not move the dial. However, influential stakeholders (government, investors, customers) using WGEA data will help close the gap. I encourage these stakeholders to apply a gender lens to their business and buying decisions,” said diversity, equity, and inclusion specialist and campaigner Michelle Redfern.
The territorial findings in the data showed that the average weekly ordinary time earnings for full-time workers were the highest in the ACT ($2,132), followed by Western Australia ($2,094). In terms of the territories on the lower end, it was Tasmania ($1,711) and South Australia ($1,777).
Industry-wise, the lowest-paid full-time workers on average were in the accommodation and food services ($1,421) and retail trade ($1,454) industries.
The high rollers, according to the data, reside in the mining industry, which has been the standard for a long duration, earning, on average, $3,015 a week. This total was followed by those in Information media and telecommunications ($2,437) and financial and insurance services ($2,283).
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The term "gender pay gap" refers to the customarily higher average incomes and salaries that men receive over women.
Kace O'Neill
Kace O'Neill is a Graduate Journalist for HR Leader. Kace studied Media Communications and Maori studies at the University of Otago, he has a passion for sports and storytelling.
