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Monthly Employee Earnings Indicator

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Experimental estimates of employee earnings, sourced from Single Touch Payroll (STP) data

Reference period
October 2023 to March 2024
Released
21/05/2024

Key statistics

In March 2024, total wages and salaries paid by employers:

  • increased to $99,521 million
  • increased by 2.1% or $2,084 million in the month from February 2024
  • increased by 7.1% or $6,571 million in the year from March 2023

As a measure of aggregate earnings, estimates presented in this release include compositional changes in the labour market, which are described in more detail in Factors affecting interpretation

Updated imputation method

In this release, the imputation method has been refined and updated to produce more accurate estimates across the imputation window (the latest 3 months) and reduce subsequent revisions. For more information, see the imputation section of How the data is transformed.

Leap year effect

In 2024, the leap year day slightly reduces the contribution of calendar adjusted earnings for monthly salaried employees in February. This results in weaker growth between January and February 2024 and stronger growth between February and March 2024 in total wages and salaries paid by employers. For more information, see the leap year effect section within Factors affecting interpretation.

Expansion in available data

This release includes additional data. The available time series has been extended to cover July 2022 through to March 2024 and includes a new data download (Table 2) presenting level estimates in $ million for available classifications (state and territory, industry division, employment size and sector).

National

Wages and salaries paid by employers, month key statistics(a)
Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24
Month change (%)-2.92.6-0.9-3.64.92.1
Annual change (%)6.97.26.66.75.77.1
Total wages and salaries ($m)94,81197,26896,38992,91297,43699,521

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

Estimates are presented as a calendar-adjusted original series, to account for the differing number of days in each month, as seasonally adjusted estimates are not yet available.

 

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

Estimates of change throughout this release are calculated using un-rounded $ million values. They may differ from, though are more accurate than change calculated from rounded values.

Wages and salaries paid by employers, quarter key statistics
Mar Qtr 23Jun Qtr 23Sep Qtr 23Dec Qtr 23Mar Qtr 24
Quarter change (%)0.81.03.51.40.5
Annual change (%)nana6.46.96.5
Total wages and salaries ($m)272,198274,990284,520288,467289,869

State and territory

In March 2024, wages and salaries paid by employers rose in all states and territories from February 2024.

  • The largest increase was in Western Australia (3.9%)
  • The smallest increase was in Victoria (1.6%)

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

Month change

Annual change

Total wages and salaries ($m)

Industry

In March 2024, wages and salaries paid by employers rose in 15 of 19 industries from February 2024.

  • The largest increase was in Mining (9.8%)
  • The largest decrease was in Information media and telecommunications (-1.7%)

a. Industries ranked by descending month percentage change wages and salaries paid by employers in March 2024.

b. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

Month change

Annual change

Total wages and salaries ($m)

Employment size

In March 2024, wages and salaries paid by employers rose in 2 of 3 employment size groups from February 2024. 

  • Employers with 200 employees and over saw the largest increase (3.6%)
  • Employers with 0-19 employees held steady (0.0%)

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

Month change

Annual change

Total wages and salaries ($m)

Sector

In March 2024, wages and salaries paid by employers rose from February 2024, in both the public (2.9%) and private sectors (2.0%).

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

a. The leap year day alters the seasonal change in February and March 2024 in these estimates. For more information see the leap year effect section within Factors affecting interpretation.

Month change

Annual change

Total wages and salaries ($m)

Data downloads

Table 1. Total wages and salaries paid by employers, percentage change

Table 2. Total wages and salaries paid by employers, level

Included from the 21 May 2024 release.

All data cubes

Changes in this release

In this release, the following sections were updated within the Methodology page:

  • How the data is transformed: text changes within Imputation subsection in regard to the method update
  • Factors affecting interpretation: new section added, Leap year effect
  • Factors affecting interpretation: text changes within Imputation rollout effect subsection

Methodology

Scope

This release presents experimental estimates of wages and salaries paid by active employing businesses and organisations to their employees in the Australian economy.

Geography

Data is available for:

  • Australia total
  • States and territories

Source

Australian Tax Office (ATO) Single Touch Payroll (STP) administrative data combined with ABS Business Register data.

Collection method

The ATO provides selected employer and employee level data from the STP system to the ABS. These data are combined with employer population and characteristics data from quarterly ABS Business Register snapshots.

Concepts, sources and methods

Wages and salaries are gross values (prior to taxation and deductions) and include wages, salary payments and allowances paid through Australian payrolls.

Employee superannuation and severance and termination payments are excluded.

History of changes

Refined imputation method included in 21 May 2024 release.

View full methodology
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