CANBERRA, ACT, May 14 -- The Treasurer of Australia issued the following media release:
New data released by the Australia Bureau of Statistics shows that annual real wages have grown for 18months in a row under the Albanese Labor Government.
Under Labor, more Australians are working, earning more and keeping more of what they earn.
We're really pleased with today's figures which show annual real wages have now grown for six quarters in a row, after going badly backwards under the previous Liberal government and falling for the five quarters in the lead up to the 2022 election.
Australians voted for higher wages at the election, and that's what today's numbers show.
The wage price index grew 0.9percent in the March quarter 2025, to be 3.4percent higher through the year.
Real wages grew 1.0percent through the year to the March quarter 2025.
This is the strongest rate of annual real wage growth in fiveyears.
Annual real wages have grown by more than 0.8percent for three quarters in a row, which is the longest consistent run of real wage growth in almost tenyears above that rate.
Since we've come to Government average annualised nominal wages have been growing at 3.7percent, much higher than the 2.2percent under our predecessors.
The Government's policies are driving strong and sustainable wage growth for workers.
We're acting to boost wages, close the gender pay gap, deliver workplace relations reforms and secure pay rises for some of the lowest‑paid workers in our community. Our support for the lowest paid workers means minimum wage earners are now earning $143.30 per week more than when we came to government.
At the same time, we've overseen the creation of more than 1million jobs in our first threeyears, a record for a Parliamentary term and stronger employment growth than any major advanced economy.
This means under Labor real wages are up, unemployment is low, inflation is down, interest rates have started to fall, every taxpayer is getting a tax cut and living standards are growing again in our economy.
This is the result of the remarkable progress Australians have made together in the economy over the past threeyears.
We know the job isn't finished because Australians are still under pressure and we know we will be faced with more global economic volatility and unpredictability over the next threeyears, not less.
Getting wages moving again is one of the ways we can help households right around Australia prepare for more uncertainty and instability in the global economy.
We know that productivity growth is the key for strong and sustainable wages growth in the long term and that's why our five‑pillar productivity agenda across technology, human capital, energy, care and competition is so important.
Disclaimer: Curated by HT Syndication.
