Annual increase until September 2024 in terms of total wages and salaries was also smaller compared to a year ago in 14 out of 19 industries, according to the ABS, with the lowest annual growth recorded in the accommodation and food industry (2.8%).

“The lower annual growth to September 2024 in the accommodation and food services industry reflects weaker economic conditions and consumer demand compared to the previous year,” Jarvis said.

On the other hand, five industries saw higher growth in total wages and salaries compared to the previous year, including public administration and the security industry (11.8%).

By location, only Victoria saw a higher increase in total wages in September 2024 (6.3%) than the previous year (6.0%).

According to the ABS, the higher pay growth data in public administration and Victoria can partly be attributed to the state’s one-off lump sum payment in its new enterprise agreement for the Victorian Public Service.