Weekly Earnings: Private Sector for Australia
LCEAPR02AUQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.94
Year-over-Year Change
15.90%
Date Range
10/1/1983 - 4/1/2018
Summary
The 'Weekly Earnings: Private Sector for Australia' metric measures the average weekly earnings of private sector employees in Australia. This key indicator provides insight into the economic well-being of Australian workers and wage inflation trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This data series tracks the average weekly earnings of full-time employees in the private sector of the Australian economy. It is a widely followed economic indicator used by policymakers, businesses, and analysts to assess the strength of the labor market and inflationary pressures.
Methodology
The data is collected through surveys of Australian businesses conducted by the Australian Bureau of Statistics.
Historical Context
Policymakers and central banks monitor this metric to help guide monetary and fiscal policies aimed at fostering economic growth and price stability.
Key Facts
- Average weekly earnings in the Australian private sector were AUD $1,778 as of the latest data.
- Weekly earnings have risen by 2.7% over the past year, indicating moderate wage growth.
- The private sector accounts for approximately 85% of total employment in Australia.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings of full-time employees in the private sector of the Australian economy.
Q: Why is this trend relevant for users or analysts?
A: This is a key indicator used to assess the strength of the labor market and inflationary pressures in Australia.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Australian businesses conducted by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this metric to help guide monetary and fiscal policies aimed at fostering economic growth and price stability.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of approximately one month.
Related Trends
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Bank Concentration for Australia
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Business Tendency Surveys (Manufacturing): Confidence Indicators: Composite Indicators: National Indicator for Australia
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Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels: Total for Australia
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Nominal Gross Fixed Capital Formation, Dwellings for Australia
NFIDNSAXDCAUQ
Financial Account (Excludes Exceptional Financing and Use of Fund Resources), Net for Australia
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Citation
U.S. Federal Reserve, Weekly Earnings: Private Sector for Australia (LCEAPR02AUQ661S), retrieved from FRED.