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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s successful Olympics bid could impact equities and property.

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Steve Waters, director of Right Property Group, chats about the impact of the lockdowns on the property market, what the 2032 Olympics could mean for Brisbane’s market, and whether APRA might need to pull the handbrake to cool house price growth.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into how the Olympics and other major events affect stock returns and what the implications are for investors.

And lastly, tax and super guru Timothy Munro talks about the near-record super returns, the COVID-19 Disaster Payments and what they mean for your super.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Earn

Do you earn more or less than the average Aussie?

By Cameron Micallef

August 16 2019
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Earn

Do you earn more or less than the average Aussie?

By Cameron Micallef
August 16 2019

New figures have revealed the average weekly ordinary time earnings for full-time adults in Australia in May 2019.

Do you earn more or less than the average Aussie?

By Cameron Micallef

August 16 2019
Share

New figures have revealed the average weekly ordinary time earnings for full-time adults in Australia in May 2019.

New Australian Bureau of Statistics (ABS) figures show that the average Australian makes $1,643 per week.

It’s a $27 a week increase on the previous six months, equating to an improvement of 1.7 per cent, and means the average weekly pay has seen a $48 increase.

It means weekly wages have seen a 3 per cent growth in the last 12 months.

ABS chief economist Bruce Hockman noted the unique market environment that’s recently been impacting Australians’ wages.

“This latest data comes after a period of low growth in average weekly earnings, which partly reflected the growing number of lower-earning workers in the services sector, including aged care, childcare and disability care workers,” he said.

State by state

Over the past five years, average full-time earnings remained highest in the ACT ($1,811) and Western Australia ($1,780), and lowest in Tasmania ($1,420) and South Australia ($1,475).

The highest increases in average full-time earnings over the five years was seen in the Northern Territory (18.1 per cent) and Victoria (16.0 per cent), which have both recorded growth well above the average increase Australia-wide, which sits at 12.3 per cent.

Public versus private sector

The public sector has outshined the private sector, with the average public sector worker making almost $200 a week more than their private sector counterparts.

Public sector workers take home an average weekly pay of $1,785.40, in comparison with private sector employees who are taking home, on average, $1,594.70.

Highest average by industry

In May 2019, employees in the mining industry boasted the highest full-time adult average weekly ordinary time earnings across all industries.

The average mining employee’s take-home pay is $2,573.00.

On the lower end of the spectrum, the industry with the lowest earnings was the accommodation and food services industry, with the average full-time worker pocketing $1,162.40.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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