The latest ABS data shows a significant turnaround in wages under Labor compared to the previous government. While real wages fell for five quarters leading up to the 2022 election under the Coalition, they have now grown for five consecutive quarters under Labor. The Wage Price Index increased by 0.7% in the latest quarter, making it 3.2% higher through the year, with real wages growing 0.8% annually.

This improvement reflects Labor's broader economic management. Since coming to government, average annualised wages have grown at 3.7%, significantly higher than the 2.2% under the previous government. For minimum wage workers, this means earning $143.30 more per week than when Labor took office. The gains have been achieved while creating a record 1.1 million new jobs - the strongest employment growth of any major advanced economy, with 4 out of 5 of these jobs in the private sector.

The wage growth has been supported by Labor's workplace relations reforms and responsible economic management. Combined with moderating inflation, tax cuts for every taxpayer, and falling interest rates, these changes are helping to boost real disposable incomes. The government's agenda includes further plans to boost productivity through competition reforms and investments in skills and human capital to ensure sustainable wage growth continues.

"Under Labor, real wages have grown for five quarters in a row. Under the previous Liberal government, real wages fell for the five quarters leading up to the election."

[1] https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/wage-price-index-australia/latest-release

[2] https://ministers.dewr.gov.au/chalmers/five-quarters-annual-real-wage-growth-under-labor