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An Aussie now needs to earn more than $95,581 a year to earn an above-average income – with men now typically earning six-figure salaries.
The average full-time salary, before bonuses and overtime, rose 3.9% in the year to May from $92,030 before tax, the Australian Bureau of Statistics revealed on Thursday.
Men working full time saw their average salary rise 3.5% to $100,792, hitting six figures for the first time.
Women’s wages rose 4.6% to $87,714, thanks to big increases in elder care and hospitality jobs where there are more women.
Of Australia’s 18 job categories, seven now have full-time average salaries in the six figures.
The mining industry had the most generous average annual salary of $148,408 for both men and women in the sector, but this amount increased slightly to $152,973 when only men’s salaries were included.
Men at mine sites who received overtime and bonuses typically received $157,810.
Information technology professionals were second on the list with average salaries of $120,531 before bonuses for both men and women.
An Australian now needs to earn $95,581 a year to earn an above-average income (pictured is Brisbane’s Queen Street Mall)
Men working full-time saw their average salary rise 3.5% to $100,792, hitting six figures for the first time (pictured is a BlueScope Steel employee)
Professional and technical services ranked third with average salaries of $112,887, followed closely by finance and insurance at $112,304 and electric, gas, water and waste services at 112,081. $.
Public sector professionals, classified in public administration and security, earned $102,154, ahead of teachers and lecturers, in the education and training category, on $101,384.
In the five-digit range, the health, care and social assistance category had an average salary of $94,000, slightly ahead of construction at $93,746 and transportation, mail and warehousing at 93 $584.
Then there were those earning less than $90,000 per year, including property managers in the renting, hiring, and real estate segment with $89,424 per year.
This puts them slightly ahead of wholesale trade at $87,620, arts and recreation at $85,972, manufacturing at $84,817 and administrative support staff at $84,053.
Female-dominated occupations with more casual staff were at the bottom of the list, with retail workers receiving $71,952 and hospitality workers in accommodation and food services $70,034.
When only women’s salaries were taken into account, full-time retail salaries fell to $66,721, while hospitality costs fell to $65,905.
But both were still well above the full-time minimum wage of $45,906.
Mining had the most generous average annual salary of $148,408 for men and women in the sector (pictured is a woman working in a coal mine in Queensland)
Unemployment rose to 3.7% in July from a 48-year low of 3.5% in June as 14,600 jobs were lost.
The news came two days after official data showed the wage price index fell at an annual rate of 3.6% in the June quarter, from 3.7% previously, marking the first decline since 2020.
The Reserve Bank of Australia’s 12 interest rate hikes since May 2022 appear to be slowing the economy and diluting the prospect of workers getting big wage increases.
AMP deputy chief economist Diana Mousina said unemployment was likely to continue to rise from now on.
“This tight labor market is unlikely to persist,” she said.