Released bi-annually, ABS data to May revealed average earnings totalled $1,838 per week, or more than $95,000 a year in seasonally-adjusted terms.

This represents an annual increase of 3.9% or $68 per week, which has outpaced the official wages growth figure.

Miners earned the most on average at $2,854 a week for full-time employees, or more than $148,000 per annum.

“Other than a brief spike in average earnings early in the pandemic, when lower paying jobs were particularly impacted, this is the strongest annual growth since May 2013," said Bjorn Jarvis, ABS' head of labour statistics.

“The recent rise in average earnings reflects strong wage growth in the Education and training and Health care and social assistance industries."

It's important to note that this figure is the average (mean) wage for full-time earners, likely skewed by a few very-high income earners.

The median full time wage on the other hand is $1,516 a week as of 2022, or $78,832. 

The overall figure including part-time work was $1,250 a week or $65,000 a year.

Australia ranks highly for female billionaires 

Analysis of Forbes' billionaires richlist by CFD provider City Index showed Australia ranks fifth in the world for the number of female billionaires.

Australia had nine female billionaires, tied equal fifth with India and Hong Kong.

It ranked behind the United States with 92; China, 46; Germany, 32; and Italy, 16.

In terms of female billionaires per million population, the US has 3.6 per million, while Australia has 2.89. 

The Rinehart family took up four out of nine Australian spots, with matriarch Gina Rinehart in top spot at $43.17 billion AUD net worth.

This comes as the ABS wages data shows the gender pay gap has decreased further, buoyed by wage increases to teachers and nurses.

The gap in average weekly ordinary full time earnings fell for the second straight time to the lowest level on record, down a further 13%.

The gap is 0.9 percentage points lower than pre-pandemic where the discrepancy between males and females was 13.9% in November 2019. 

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All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of April 28, 2024. View disclaimer.

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