Total wages and salaries reached a seasonal high of $99.5 billion in March

In March 2024, total wages and salaries paid by employers rose 2.1 per cent or $2.1 billion from February 2024, according to figures released today by the Australian Bureau of Statistics (ABS).

Bjorn Jarvis, ABS head of labour statistics, said: “Total wages and salaries were $99.5 billion in March 2024, up 7.1 per cent from $92.9 billion in March 2023.

“This annual growth rate reflects the combined effects of changes over the year in underlying wage growth, hours worked, periodic payments like bonuses, and employment growth seen in other ABS labour statistics.

“March is a time of the year when a range of industries pay periodic bonuses, which means it’s usually a seasonal high in the financial year. This is where this monthly data, which is still relatively new and produced using Single Touch Payroll data from the Australian Taxation Office, gives us new insights.”

Wages and salaries paid by employers (a)

2022-23 ($m)2023-24 ($m)
July87,01992,409
August88,60394,434
September91,72097,677
October88,71594,811
November90,74997,268
December90,44996,389
January87,05392,912
February92,19697,436
March92,95099,521
April91,765
May91,257
June91,967
/ABS Public Release. View in full here.