Pocket change: Aussies wages up 5.7 per cent – ABS
Australians collectively earned $1.3 trillion in pre-tax personal income for the financial year ending 2023, the latest Bureau of Statistic data has reveals. It was a 5.7% hike over the year prior. But earning the smallest piece of that was the accommodation and food service industries.
THE median personal income of Australians has risen 5.7% to $58,216, according to new Australian Bureau of Statistics (ABS) data.
Aussies earned a collective $1.3 trillion in pre-tax personal income during 2022-23, based on latest ABS personal income figures released on November 14.
Mining was the highest earner by far, with a median employment income of $149,362, followed by electricity, gas, water and waste services, $105,158.
The accommodation and food services industry had the lowest median employment income of $22,270, along with arts and recreation services, $37,057.
For most people, employment income was their main source of income, however more people are getting income from investments.
A total of 11.8% had investment income as their main income source, compared with 11.3% in 2021-22.
However, fewer people are relying on their own business income as their main income source, dipping from 6.7% to 6.5%.
Only 1.2% of people received superannuation income as their main income source, down slightly from 1.3% in 2021-22.
Jobwise, professionals earned a median income of $95,657, followed by managers who made $90,000, while technicians and trade workers made $68,548.
Sales workers had the lowest, at $37,518.
Middle-aged Australians were the highest earners, with the 45-54 cohort enjoying a median total income of $80,926, followed by those aged 35-44, $77,912.
Younger people, aged 24 years and under, had the lowest, at $23,840.
In every age group, men enjoyed higher median incomes compared with women.
For example, men aged 35-44 earned a median of $92,266 a year, compared with $64,602 for women. For those aged 45-54, men earned $95,400 while women earned $68,570.
Across the nation, workers in the Australian Capital Territory enjoyed the highest median total income, at $75,643, while in Tasmania they received the lowest at $53,479.
