Aussies have experienced a 1.2 per cent rise in weekly earnings

Mozo

Thursday 18 August 2011

Aussies may have had more spare cash to put in their savings accounts in the three months to May as the average weekly ordinary time earnings for adult full-time employees increased by 1.2 per cent.

Wages increase in three months to May 2011

Data from the Australian Bureau of Statistics revealed that staff in the private sector made the most gains, while public sector employees saw their wages rise by an average of 1.1 per cent.

In the year leading up to May there was an even more marked increase in pay packets, with the average person seeing their income rise by 4.4 per cent.

However, the figures also revealed that men may have had more chance to fill their savings accounts, as their full-time adult ordinary time earnings rose by 4.7 per cent, six percentage points more than for women.

This comes after a UBS survey revealed that Sydney-dwellers have the second strongest domestic buying power in the world.

Have a question about savings accounts? Ask the money gurus at Mozo AnswersADNFCR-1761-ID-800704024-ADNFCR

Compare today's top savings accounts

Back to top