" Daily Mail " reported that the current annual income of full-time Australians needs to reach 91,000 Australian dollars to exceed the average income level. High inflation is diluting people's purchasing power as wage growth struggles to keep pace with rising prices.
New data released by the Australian Bureau of Statistics (ABS) on Thursday shows that the average full-time wage in November 2021, excluding bonuses and overtime pay, was A$90,917.
For Australians who work longer hours, their annual wage growth is only 2.1%. This is well below the 3.5% inflation rate and means that price increases have completely overwhelmed wage increases. For full-time workers who receive bonuses and overtime pay, wages rose 3.8 per cent to $94,260. Their wages are rising at least faster than the rate of inflation.
It is reported that Australia's inflation rate rose to its highest level since the peak of the global financial crisis in 2008 last year.
(Picture source: "Daily Mail")
"Daily Mail" reported that the average full-time annual salary in the mining industry is the highest, at 138,128 Australian dollars, followed by the media and information technology industry, at 113,276 Australian dollars. These two industries The salary increase reached 7.1%. Annual salaries in the finance and insurance industry reach A$110,042.
Professional and technical services occupations - including lawyers, accountants, architects and engineers - typically earn $106,673 per year. The average salary for civil servants and police officers is $98,326.
Annual salary in the industry (Photo source: "Daily Mail")
The annual salary of retail industry practitioners is 68,349 Australian dollars, which is far lower than the average 87,953 Australian dollars in the health and social assistance industry, but higher than 63,377 Australian dollars in the accommodation and catering industry.
(Photo source: "Daily Mail")
The Capital Territory has the highest salary increase, reaching 4.8%, with an average salary of A$102,882.
Tasmanian office worker wages increased by 3.6 per cent to $80,168.
Queensland wages increased by 3.5 per cent to $86,637.
Salaries in South Australia increased by 3.2 per cent to $82,685, while in Western Australia there was a 3 per cent increase, bringing the average salary in the mining-rich state to $98,582.
Salaries in NSW increased by just 0.5 per cent to an above-average $91,577. Salaries in Victoria rose by 2.4% to $91,494. Northern Territory salary levels fell by 0.3% to $88,327.
Men working full-time earn on average $96,018, while women earn $82,742.
Earnings by industry (Image source: Daily Mail)
CommSec senior economist Ryan Felsman said while the gender pay gap was closing, it was easier for women due to last year's Delta lockdowns in Sydney and Melbourne Lost work time.
He said pandemic-induced restrictions often affected female workers the most due to increased family care responsibilities, coupled with the loss of part-time jobs.
It is also worth mentioning that the average weekly earnings of women working full-time rose in the six months to November last year.
