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Australian average weekly earnings jump

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Heracles Grand Master

Heracles   417

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Average weekly earnings jump

November 19, 2009 - 11:44AM

The average weekly wage in Australia is now $1200.60, after rising by 5.2 per cent in the year to August.

The quarterly seasonally-adjusted pace of average weekly ordinary time earnings rose 0.9 per cent in the three months to August, Australian Bureau of Statistics data released today.

This was a slight moderation on the 1.3 per cent quarterly growth recorded in the three months to May but still left the annual rate well above the Reserve Bank of Australia's perceived "line in the sand" at 4.5 per cent.

Still, the composition of the AWOTE series tends to make it volatile, which is why the RBA prefers to use the wage price index - released yesterday - as one of its main guides to wages growth.

That index showed a more modest pace of growth of 0.7 per cent in the three months to September with the annual rate a subdued 3.6 per cent, its slowest pace in nearly five years.

AAP

This story was found at: http://www.theage.com.au/business/average-weekly-earnings--jump-20091119-ino3.html

According to the Internal Revenue Service, the 400 richest American households earned a total of $US138 billion, up from $US105 billion a year earlier. That's an average of $US345 million each, on which they paid a tax rate of just 16.6 per cent.

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