You are using an older browser version. Please use a supported version for the best MSN experience.

Australia's economy is booming, but workers are missing out as their share of income nears the lowest level on record

Business Insider Australia logo Business Insider Australia 5/09/2018 David Scutt

© Getty Australia's economy may be getting larger, but the share of national income going to workers is getting smaller.

It's actually nearing the lowest levels on record.

Here, look.

a screenshot of a cell phone screen with text © Supplied

From the Commonwealth Bank, it shows the share of wages and company profits as a percentage of national income.

According to the ABS, total compensation of employees (COE) -- including changes in wages, employment and hours worked -- grew by 0.7% in the June quarter, leaving it up 4.8% over the year.

Per employee, the average increase was significantly smaller, lifting just 0.1% for the quarter and 1.6% over the year.

In contrast, company profits rose by 1.0% over the quarter, leaving the increase from a year earlier at 8.8%.

So while employee wages continue to increase, and are still the largest component, the share of the national income pie is getting smaller as company profits increase at a faster rate.

Loading...

Load Error

More From Business Insider Australia

Business Insider Australia
Business Insider Australia
image beaconimage beaconimage beacon