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Australians average, full-time salary stands at $89,000 as unemployment rises to 7.5 per cent

Australians need to earn more than $89,000 a year to be considered an above-average income earner.

While unemployment is now at levels unseen since 1998, full-time professionals have done well – provided they have kept their jobs.

Australia’s average full-time salary before bonuses and overtime stood at $1,713.90 in May equating to a salary of $89,122.80 a year.

Australians need to earn more than $89,000 a year to be considered an above-average income earner. Pictured is a Sydney barista

Australians need to earn more than $89,000 a year to be considered an above-average income earner. Pictured is a Sydney barista

While private sector wages overall have fallen, those in a secure job have done well with their average weekly ordinary time earnings increasing by 4.8 per cent – a level well above inflation.

Public sector workers putting in 35 hours or more a week earned $96,116.80 a year, or $1,848.40 a week compared with $87,027.20 annually or $1,673.60 weekly in the private sector. 

The Australian Bureau of Statistics also revealed on Thursday the national jobless rate rose in July to 7.5 per cent, the highest since November 1998.

After three months of unemployment surging, last month marked a small uptick from 7.4 per cent. 

The news is much more grim in Victoria, however, with the state’s Department of Treasury and Finance predicting the state’s jobless rate hitting a 26-year high of 11 per cent by the end of September, with Melbourne residents in a Stage 4 lockdown.

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