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Running a business can be challenging, in part because of the costs involved. One of the biggest overheads is wages, which continue to rise.
The total wages and salaries paid by employers rose 3.9% between August and September 2024, according to the latest figures from the Australian Bureau of Statistics (ABS).
Bjorn Jarvis, ABS head of labour statistics, said: “This marks an all-time monthly high in total wages and salaries paid by employers in Australia of $103.7 billion in September 2024. It compares with $97.5 billion in September 2023 and $90.9 billion in September 2022.”
The growth in September is, in part, due to a range of industries paying periodic bonuses at the end of the September quarter. Other factors at play are underlying wage growth, variations in hours worked, one-off payments like bonuses and backpay, and employment growth.
#accountant #business #wages
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