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Cashed up miners are leaving other parts of the economy behind as resources companies hand out huge wage rises to their employees.
According to a report released yesterday by global consultancy firm Mercer, while the average wage for Australians rose four per cent last year mining wages rose six per cent.
In yet another sign of the two speed economy, the mining increase was almost double the 3.1 per cent rise received by retail workers.
Mercer principal Anthony Shippard said the difficulty of finding mine workers was driving the sector’s pay spike, with resources companies paying top dollar to attract staff.
“Cashed-up resources organisations are paying a premium to attract and retain in-demand skills,” he said.
Wages grew the most in the mining states of WA and QLD, with average rises levelling at 5.2 per cent and 4.5 per cent respectively.
The research follows Australian Bureau of Statistics figures released earlier this month that indicated mine workers in WA were topping Australia’s pay scales.
But within the male dominated industry men continue to be paid significantly higher than women.
According to the ABS full-time men in the mining industry take home an average of $120,000 a year, while full-time women take $91,000.
The pay is almost double the average $51,100 for men and women in retail, accommodation, and food services industries.