The Australian Bureau of Statistics’ Average Weekly Earnings survey is put into place in order to analyze the level of average earnings in Australia at a particular point of time. Any alterations in the average weekly earnings may be impacted by any changes in the level of earnings per worker also additionally the composition of the workforce. Some of the elements that can alter the composition are any changes in the proportion of casual and junior employees, full time and part-time workers and also any variation in the occupational distribution within the industry.
In the months leading up to May 2020, there was a 4.8% increase in the Full-Time Adult Average Weekly Ordinary Time Income. The figure, in 2020, rose to $1,713.90.
As of May 2020, the Full-Time Adult Average Weekly Ordinary Time Earnings was recorded at $1771.20. This indicated a 4.3% increase from the statistics of last year.
Australia witnessed the introduction of policies such as social distancing from 22nd March 2020. There were other business-related precautions and restrictions that were imposed as well. Many of these restrictions were still applicable during the Average Weekly Earnings reference period for the quarter.
All replies for the Average Weekly Earnings May 2020 quarter remained at the peak. The responses that were recorded were quite similar to the ones from the previous quarters.
Article by: Hari Yellina