Employers have paid nearly $13m to their employees in employee benefits and wages since the start of the year, including bonuses, according to a new report.
The data was obtained by the ABC by the Australian Bureau of Statistics.
The ABS’s figures are the latest evidence of a tightening labour market, with job seekers increasingly demanding high pay and higher wages.
It is the latest indication of the growing pressure on employers to raise pay.
The average pay for a full-time employee is now $9,750 a year.
The figures show the average full-year wage has risen by 1.7 per cent, or $7,400.
“Employers are increasingly paying workers higher wages in order to attract and retain talent, particularly as the economy continues to recover,” the report’s author, Professor David Crampton, said.
“It is not surprising that employers have responded to the recent labour market downturn by increasing their pay packages to attract talented employees and to ensure the sustainability of their business.”
While the numbers do not provide a complete picture of the average wage for all employees, the ABS says the figures do provide a measure of the trend.
The report found the average wages for full-timers have increased by about 1.8 per cent in the past 12 months, or by an average of $717 a year, or about $2,000 a week more than the average for full workers.
Employers pay out about $12 billion in employee and employer benefits to their workers.
The total amount paid to employees by employers is around $5.7 billion a year.(ABC News: Andrew Meares)The figures also show that, on average, full- and part-time employees’ wages have increased significantly in the year to June 2017.
That figure jumped by about 4 per cent from $12,715 to $14,636, while the average pay of full-term employees jumped by almost 5 per cent.
Average hourly earnings have also increased, rising by about 2.5 per cent to $22.95.
The latest figures were obtained by ABS economists Andrew Meres and Chris Phelan.
ABS economist David Crapo said it was encouraging to see employers pay employees more.
“Increasing employee pay raises the likelihood that employees will choose to join the business,” Mr Crapa said.
“This could be as simple as having a higher wage for the job.”
We’ve seen that employers are increasingly rewarding employees for their efforts, and employers are getting more creative with their pay schemes, which is a good thing for their employees.
“The ABC’s Robert O’Brien reports on how Australia’s economy is recovering.