COMPENSATION OF EMPLOYEES
Compensation of employees covers wages and salaries received by employees, and employers' social contributions (pension and superannuation funds, and workers compensation).
In 2005-06, compensation of employees in the ACT totalled $11.9b, or 61% of ACT's Gross State Product (GSP) at current prices. This is an increase of $623m from 2004-05 ($11.3b). Nationally, compensation of employees totalled $460.3b, or 48% of Gross Domestic Product (GDP) at current prices, up $31.8b since 2004-05 ($428.5b).
10.10 Labour costs, ACT and Australia: Current prices |
|  |
| | | 2003-04 | 2004-05 | 2005-06 | |
| |
| ACT | | | | | |
| Compensation of employees(a) | $m | 10 670 | 11 289 | 11 912 | |
| Gross State Product | $m | 17 500 | 18 473 | 19 477 | |
| Proportion of GSP | % | 61 | 61 | 61 | |
| Australia | | | | | |
| Compensation of employees(a) | $m | 399 334 | 428 549 | 460 318 | |
| Gross Domestic Product | $m | 840 285 | 896 568 | 965 969 | |
| Proportion of GDP | % | 48 | 48 | 48 | |
| |
| (a) Compensation of employees as a component of Gross State Product (GSP) for the ACT, and Gross Domestic Product (GDP) for Australia, consists of the value of entitlements earned by employees from their employers for services rendered during the accounting period. |
| Australian National Accounts: State Accounts, 2005-06 (cat no. 5220.0). |
