There hasn't been a huge demand for bigger pay packets, despite inflationary pressures and the higher cost of living.
The Melbourne Institute Wages report has found total pay rose 4.9 per cent in the 12 months to August, down from 7.5 per cent in the year to May.
The Institute say it shows high fuel and food prices aren't feeding into wages as the Reserve Bank had feared.
The survey found the basic hourly wage grew at 4.4 per cent over the year to August, with most of the increase due to overtime loadings and penalty rates.
The report also found those on individual contracts had a pay rise of 9.1 per cent, compared with a 6.1 per cent increase for those on enterprise agreements.