Inflation rates are on the rise, and so are wages. The HCA Mag recently reported that according to newly released government data, the median wage for Australian workers covered by enterprise agreements surged by $54 per week in the year to September 2024.
The growth highlights the important role of enterprise bargaining in driving wage increases, especially in the private sector.
Recent analysis shows that wage growth in the private sector outpaced the public sector, increasing by 3.9% compared to 3.5%. This is slightly above the figures reported in the September Wage Price Index update.
The median weekly wage sits at $1,396, and the year-on-year increase translates to an annual pay bump of approximately $2,808 for private sector workers and $2,496 for public sector employees.
Business sector pushback
Minister of Employment and Workplace Relations Murray Watt credited the wage increases to the Albanese government’s proactive measures to stimulate wage growth.
“Labor has worked hard to get wages moving again,” Watt said.
