AWOTEAverage Weekly Ordinary Time Earnings (Australia)
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After accounting for inflation, real female AWOTE in the private sector fell by 1.
It is estimated that the decision of the AIRC will contribute 1/3 percentage point to the growth in AWOTE this year, after 1/2 percentage point in 1998.
Compared to the estimates from 2003, the figure for all employees AWOTE grew more quickly (5.
As in recent years, wage statistics suggest a divergent movement between private and public sector, with growth in public sector AWOTE again somewhat stronger (4 3/4 per cent in 1997/98), although this reflects in part a compositional change in the public-sector workforce.
in aggregate terms, the higher award wages may add 1/2 percentage point to the annual growth in AWOTE.
115) Replacement rates in the matured system are inversely related to earnings owing to means testing of the age pension and progressive income tax rates; someone earning 75 per cent of AWOTE has a replacement rate of over 90 per cent, while the rate falls to 60 per cent for someone earning twice AWOTE.
Although there is a small upward bias(11) in the AWOTE rates of growth, wage increases of this magnitude were out of line with the RBA's medium term target of a rate of 2 to 3 per cent for the Treasury measure of underlying inflation,(12) even allowing for private sector labour productivity gains of the order of 2 per cent.
Quarterly wage movements have proved very volatile in recent periods, particularly so with the public sector AWOTE measure, which rose at an annual rate of around 6 per cent by the middle of 1996 and accelerated to 9 per cent in the remainder of the year (Table 3).