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5204.0 - Australian System of National Accounts, 2007-08  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/10/2008   
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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 and 53.4% in 2007-08.

Wages share of total factor income
Graph: Wages share of total factor income


The profits share (based on Gross operating surplus for Financial and Non-financial corporations) of Total factor income reached 26.5% in 2007-08 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


National net saving was positive in 2007-08 at $82.3 billion or 7.3% 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 was again positive at 1.1% of GDP. Household net saving was equal to $11 billion.

When analysing household saving it is also useful to consider Household net worth, currently at $5,056.3 billion at 30 June 2008. Estimates are presented in Table 51. For more information please refer to Balance Sheets.

In 2007-08, Financial corporations net saving was 3.8% of GDP ($43 billion). General government net saving represented 2.9% of GDP ($32.9 billion) and net saving for Non-financial corporations represented 0.1% of GDP ($609 million).

Net saving, By sector - relative to GDP
Graph: Net saving, By sector—relative to GDP


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