The National Average Wage Index, Every Year Since 1951
National average wage index, 2024
$69,846.57
The index that moves the wage base, the bend points and the cost of a credit. It runs two years behind, which is why the parameters do too.
The average wage index is the wage side of the system, where the cost-of-living adjustment is the price side. It sets the wage base, the bend points, the cost of a credit and the earnings-test thresholds — and it runs two years behind, because a complete year of wage records takes that long to assemble.
| Year | Average wage index | Change |
|---|---|---|
| 2024 | $69,846.57 | 4.84% |
| 2023 | $66,621.80 | 4.43% |
| 2022 | $63,795.13 | 5.32% |
| 2021 | $60,575.07 | 8.89% |
| 2020 | $55,628.60 | 2.83% |
| 2019 | $54,099.99 | 3.75% |
| 2018 | $52,145.80 | 3.62% |
| 2017 | $50,321.89 | 3.45% |
| 2016 | $48,642.15 | 1.13% |
| 2015 | $48,098.63 | 3.48% |
| 2014 | $46,481.52 | 3.55% |
| 2013 | $44,888.16 | 1.28% |
| 2012 | $44,321.67 | 3.12% |
| 2011 | $42,979.61 | 3.13% |
| 2010 | $41,673.83 | 2.36% |
| 2009 | $40,711.61 | -1.51% |
| 2008 | $41,334.97 | 2.30% |
| 2007 | $40,405.48 | 4.54% |
| 2006 | $38,651.41 | 4.60% |
| 2005 | $36,952.94 | 3.66% |
| 2004 | $35,648.55 | 4.65% |
| 2003 | $34,064.95 | 2.44% |
| 2002 | $33,252.09 | 1.00% |
| 2001 | $32,921.92 | 2.39% |
| 2000 | $32,154.82 | 5.53% |
| 1999 | $30,469.84 | 5.57% |
| 1998 | $28,861.44 | 5.23% |
| 1997 | $27,426.00 | 5.84% |
| 1996 | $25,913.90 | 4.89% |
| 1995 | $24,705.66 | 4.01% |
| 1994 | $23,753.53 | 2.68% |
| 1993 | $23,132.67 | 0.86% |
| 1992 | $22,935.42 | 5.15% |
| 1991 | $21,811.60 | 3.73% |
| 1990 | $21,027.98 | 4.62% |
| 1989 | $20,099.55 | 3.96% |
| 1988 | $19,334.04 | 4.93% |
| 1987 | $18,426.51 | 6.38% |
| 1986 | $17,321.82 | 2.97% |
| 1985 | $16,822.51 | 4.26% |
| 1984 | $16,135.07 | 5.88% |
| 1983 | $15,239.24 | 4.87% |
| 1982 | $14,531.34 | 5.51% |
| 1981 | $13,773.10 | 10.07% |
| 1980 | $12,513.46 | 9.01% |
| 1979 | $11,479.46 | 8.75% |
| 1978 | $10,556.03 | 7.94% |
| 1977 | $9,779.44 | 5.99% |
| 1976 | $9,226.48 | 6.90% |
| 1975 | $8,630.92 | 7.47% |
| 1974 | $8,030.76 | 5.94% |
| 1973 | $7,580.16 | 6.26% |
| 1972 | $7,133.80 | 9.80% |
| 1971 | $6,497.08 | 5.02% |
| 1970 | $6,186.24 | 4.96% |
| 1969 | $5,893.76 | 5.78% |
| 1968 | $5,571.76 | 6.87% |
| 1967 | $5,213.44 | 5.57% |
| 1966 | $4,938.36 | 6.00% |
| 1965 | $4,658.72 | 1.80% |
| 1964 | $4,576.32 | 4.09% |
| 1963 | $4,396.64 | 2.45% |
| 1962 | $4,291.40 | 5.01% |
| 1961 | $4,086.76 | 1.99% |
| 1960 | $4,007.12 | 3.92% |
| 1959 | $3,855.80 | 4.95% |
| 1958 | $3,673.80 | 0.88% |
| 1957 | $3,641.72 | 3.10% |
| 1956 | $3,532.36 | 6.99% |
| 1955 | $3,301.44 | 4.62% |
| 1954 | $3,155.64 | 0.52% |
| 1953 | $3,139.44 | 5.59% |
| 1952 | $2,973.32 | 6.22% |
| 1951 | $2,799.16 | — |
The other rate series
- Social Security Wage Base
The maximum earnings subject to the Social Security payroll tax, and the employee contribution it implies.
- Quarter of Coverage
What one Social Security credit costs in earnings, indexed to the average wage index each year.
- PIA Bend Points
The two dollar hinges in the benefit formula, fixed for life at the year you turn 62.
- Family Maximum Bend Points
The three hinges that cap the total payable on one earnings record.
- Retirement Earnings Test
How much you can earn before benefits are withheld, at both the lower and the FRA-year threshold.
- Substantial Gainful Activity
The monthly earnings level that defines disability work activity, non-blind and blind.
- Trial Work Period
The monthly earnings that make a month count against the nine-month trial work period.
- SSI Federal Payment Rate
The federal SSI standard for an individual and a couple, and the unrounded annual amount each derives from.
- Maximum Social Security Benefit
The highest benefit a worker retiring at full retirement age can receive, and what the COLA does to it.
- Average Social Security Benefit
What SSA publishes as the average payment for each beneficiary category, and the distribution behind it.
- SSI Student Earned Income Exclusion
How much a student under 22 can earn before SSI counts it, monthly and annually.
By programme
- Retirementretired workers
- DisabilitySSDI
- SSIthe federal rate
- Survivorswidows and widowers
- Spousalon a worker record
- Childrenand the family maximum
Sources and freshness
- SSA OACT — Average wage index series — verified 10 August 2026
- SSA Office of the Chief Actuary — Cost-of-Living Adjustments — verified 10 August 2026
Series keyed by: Calendar year.
Figures effective 2026. Page figures last verified against the sources above on 10 August 2026. Corrections: the correction log · support@inventum.com.au