Treasurer of Australia Jim Chalmers announced that full-time workers are $6,200 better off than two years ago due to rising wages and tax cuts starting July 1.
Chalmers highlighted that the average full-time salary is now $98,218 annually.
The politician acknowledged ongoing challenges, saying, "It's not mission accomplished, but under Labor, wages are growing, and our tax cuts will start flowing from July 1."
Inflation in Australia, running at 4% as of May, continues to erode real wages. Consumer prices have risen nearly 10% over the past two years.
Chalmers emphasised the importance of cost-of-living tax cuts amidst continued financial pressure on households.