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5204.0 - Australian System of National Accounts, 2006-07  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/11/2007   
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INCOME FROM GDP

The wages share of total factor income remained relatively stable during the 1990s, at levels similar to those during the 1960s. The highest recorded value of the wages share of total factor income was 62.4% in 1974-75. In more recent times, the wages share has been trending down to be 53.7% in 2006-07.

Wages Share of Total Factor Income
Graph: Wages Share of Total Factor Income



In 2006-07, Non-farm compensation of employees increased by 8.0% driven by a 4.6% increase in average earnings and a 3.4% increase in the number of employees.


The profits share (based on Gross operating surplus for Financial and Non-financial corporations) of Total factor income reached 27.2% in 2006-07 and this represents the highest share recorded since 1959-60. The profits shares recorded since the early 1990s are at a distinctly higher level than those at any time since 1959-60. The profit share measure should not be interpreted as a direct measure of 'profitability' for which it is necessary to relate profits to the level of capital assets employed.

Profits Share of Total Factor Income
Graph: Profits Share of Total Factor Income



Overall, national net saving was positive in 2006-07 at $67 billion or 6.4% of GDP. As a proportion of GDP, household net saving generally increased from 1959-60 to a peak in 1974-75 of 11.5% of GDP. The series then gradually decreased, eventually reaching its lowest at -1.8% of GDP in 2003-04 (a net saving level of $-15.1 billion). In 2006-07 household saving is again positive at 0.4% of GDP (household net saving is equal to $4.6 billion). This is the first positive result since 2002-03. Strong property income and social assistance benefits growth, coupled with smaller growth in income taxes and consumption expenditure have driven household saving positive in 2006-07.


When analysing household saving it is also useful to consider Household net worth, currently at $5,073.3 billion at 30 June 2007, estimates of which are presented in Table 51. For more information please refer to Balance Sheets.


In 2006-07, Financial corporations net saving was 2.5% of GDP ($26.3 billion). General government net saving represented 2.1% of GDP ($22.3 billion) and net saving for Non-financial corporations represented 1.3% of GDP ($13.8 billion).

Net Saving, By Sector - relative to GDP
Graph: Net Saving, By Sector—relative to GDP




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