Cost of living real wage growth australia lags 20240710 p5ro6i.html – Breaking News & Latest Updates 2026
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As Australia lags, wages in these countries are growing

Sarah Swain
Sarah Swain

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Australia is trailing behind when it comes to new research on what workers are paid.

The OECD Employment Outlook 2024 looks at developments in the labour market in its 35 member countries.

It listed nations where real wages are growing and countries where they are still below their pre-pandemic, 2019 level.

Real wages are the hourly rate of pay adjusted for inflation.

Real wage growth was positive in 29 nations and below the 2019 level in 16 of them.

Click through to see the countries where real wages grew the most - and where Australia came.

Attribution: Supplied
16. Luxembourg
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16. Luxembourg

Luxembourg had a positive growth in real wages, but only by two per cent.

Year-on-year, they grew by 2.3 per cent.

Attribution: Getty
15. UK
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15. UK

Workers in the UK have had a boost of 3.1 per cent in real wages.

Year-on-year, they're up by 1.8 per cent.

Attribution: Getty Images/iStockphoto
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14. Austria
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14. Austria

Austrian workers have seen wages rise by 3.5 per cent since 2019.

They've gone up year-on-year by even more - 5.4 per cent according to the survey.

Attribution: Getty
13. Greece
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13. Greece

Greek workers are benefiting by wages that are 3.6 per cent up since 2019.

That's the same amount they've also gone up year-on-year.

Attribution: Getty
12. Slovak Republic
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12. Slovak Republic

Slovakia, officially the Slovak Republic, is paying workers more - 4.6 per cent since 2019 and 6.3 per cent year-on-year.

Attribution: Getty Images/iStockphoto
11. Costa Rica
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11. Costa Rica

Costa Rica has seen a 5.1 per cent increase in wages since 2019.

It topped the chart for wage rises year-on-year, with a big 16.5 per cent rise.

Attribution: Getty
10. Mexico
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10. Mexico

Mexican workers' wages are up 5. 4 per cent since the end of 2019.

Year-on-year increases were 5.7 per cent.

Attribution: Getty Images/iStockphoto
9. Portugal
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9. Portugal

Workers in Portugal saw a cumulative wage rise since 19 of 5.5 per cent.

Year-on-year, the figure was three per cent.

Attribution: Getty
8. Iceland
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8. Iceland

Iceland came next, with wage rises of 5.7 per cent since 2019, and 3.2 per cent year-on-year, the poll discovered.

Attribution: Getty Images/iStockphoto
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