Just a day after learning Australian wages grew at the slowest level on record in the past year, Australia’s labour market has just set another record.
The average hours worked per Australian employee is also at an all-time low, which runs counter to perceptions that everyone is working harder than ever before.
According to the Australian Bureau of Statistics, the average Australian employee worked 135.4 hours in April, the lowest level since the data was first tabulated in mid-1978.
The figure is derived by dividing total hours worked each month by the number of Australian workers.
While these are averages and not representative of individual workers, it’s clear that as a nation we’re not only seeing smaller pay increases but are also working less.
Even with employment at record highs that’s not great news for household consumption, nor overall economic growth.
It also brings into question if we’re really as hard-working, collectively, as many of us think.