How do you stack up? The average Australian salary is revealed - as unemployment rises to its worst level in 22 years with 7.5 per cen
How do you stack up? The average Australian salary is revealed – as unemployment rises to its worst level in 22 years with 7.5 per cent jobless
- Australia’s average full-time salary stands at $89,122.80, new figures revealed
- Those working 35 hours or more a week saw pay levels increase by 4.8 per cent
Australians need to earn more than $89,000 a year to be considered an above-average income earner.
While unemployment is now at levels unseen since 1998, full-time professionals have done well – provided they have kept their jobs and working hours.
Australia’s average full-time salary before bonuses and overtime stood at $1,713.90 in May equating to a salary of $89,122.80 a year.
Australians need to earn more than $89,000 a year to be considered an above-average income earner. Pictured is a Sydney barista
While private sector wages overall have fallen, those in a secure job have done well with their average weekly ordinary time earnings increasing by 4.8 per cent – a level well above inflation.
Public sector workers putting in 35 hours or more a week earned $96,116.80 a year, or $1,848.40 a week compared with $87,027.20 annually or $1,673.60 weekly in the private sector.
The Australian Bureau of Statistics also revealed on Thursday the national jobless rate rose in July to 7.5 per cent, the highest since November 1998.
After three months of unemployment surging, last month marked a small uptick from 7.4 per cent.
The news is much more grim in Victoria, however, with the state’s Department of Treasury and Finance predicting the state’s jobless rate hitting a 26-year high of 11 per cent by the end of September, with Melbourne residents in a Stage 4 lockdown.
The pandemic is continuing to erode the pay packets of those holding insecure jobs, with private sector wages falling by 0.1 per cent in the June quarter as Stage 3 lockdowns came into force across Australia, official wage price index data showed.