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The accommodation and food services sector reported the lowest median annual employment earnings at $22,270, while the arts and recreation services sector followed with $37,057.
Employment remains the primary income source for the majority of Australians, but there is a notable increase in those deriving income from investments. Currently, nearly 12% of the population earns from investments, an increase from the previous year’s 11% during the 2021-22 financial period.
Conversely, there has been a slight decline in individuals earning income from their own businesses, decreasing from 6.7% to 6.5%.
The national median income for individuals stands at $58,216.
Source: SBS News
The national personal median income was $58,216.
Source: SBS News
The highest income inequality was recorded in Cottesloe, Perth, where 84 per cent of the income was received by the top 10 per cent of earners. The median income in Cottesloe was $83,861.
The median income in Walgett in 2022-23 was $43,197 a year, and in Flinders $56,165 a year.
Men enjoy higher median incomes across the board
In every age group, men enjoyed higher median incomes compared with women.
In the 45 to 54 years age range, it was $95,400 for men and $68,570 for women.
