Highest wage growth in Australia as Tasmania again records the strongest business confidence

In fantastic news for Tasmania’s workers, data released by the ABS shows that our great State experienced the strongest wages growth in the nation in the 2024 financial year.

In the four quarters to June 2024, the Tasmanian Wage Price Index (WPI) grew by a whopping 5.1 per cent. Tasmania’s growth was 0.5 per cent ahead of Queensland with the next strongest growth and a massive 1.8 per cent better than Victoria with the weakest growth of Australian state and territories.

Treasurer, Michael Ferguson, welcomed the figures showing support for hard working Tasmanians and households.

“The good news for Tasmania continued today with the release of the July 2024 NAB monthly business survey released showing Tasmania continues to have the strongest business confidence in the country," Mr Ferguson said.

Tasmania's business conditions are also, strong, second only to Queensland in trend terms and double the national average.

“The Tasmanian economy will always be better served under a Liberal Government and this report shows that strong endorsement of our Liberal Government from the business community,” he said. 

“The Tasmanian Liberal Government is supporting Tasmanians through cost of living pressures brought on by Federal policy settings.

“Our 2030 Strong Plan for Tasmania’s Future shows that the Government is focused on what matters – jobs, investment and economic growth – and our economic plan has been working for a long time and continues to work.”