Wages Top Inflation for First Time in 3 Years

The strongest wage growth since 2013 has seen an average bump of $81 to the pay packets of Australian workers, as wages top the rate of inflation for the first time since 2021. According to new seasonally-adjusted figures released by the Australian Bureau of Statistics (ABS) for the December 2023 quarter, the average weekly ordinary time earnings for adults working full-time increased by 0.9 percent to $1,888.80, coupled with a rise of 4.2 percent across the year. Increases exceeded inflation, which was recorded by the Consumer Price Index at 4.1 percent for the year to December 2023. Western Australia had the highest wage growth among full-timers, averaging $2,108. Average earnings in the ACT topped $2,080, followed by NSW at $1891, Victoria at $1858.10, and South Australia at $1,735, while Tasmania brought up the rear with $1,670....