1307.8 - Australian Capital Territory in Focus, 2007  
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Contents >> The Labour Market >> Compensation of Employees

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).


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