Advertised Salary Index - March
The SEEK Advertised Salary Index (ASI) measures the growth in advertised salaries for jobs posted on SEEK in Australia. This report provides a snapshot of the monthly data. The next quarterly SEEK ASI report will be released next month and will contain industry and state trends.
NATIONAL ADVERTISED SALARY TRENDS
Advertised salary growth rose by 0.3% m/m in March, continuing the stable growth seen in recent months.
Annual advertised salary growth has inched up to 3.7% since late last year but has slowed by 0.6 percentage points since March last year.
SEEK Senior Economist, Dr Blair Chapman says:
“Advertised salary growth has ticked up to 3.7% year-ended in March, with monthly growth remaining around 0.3% since December.
“If advertised salary growth continues at this pace m/m, then annually, it will slow to 3.4% by June. However, an increase in economic uncertainty combined with a slow start to the year for the labour market may see annual advertised salary growth slow faster.
“The ABS’ broader wage price index slowed to 3.2% year-ended in December, so with advertised salary growth above 3.2% it suggests that we may see a slight reacceleration of broader wage growth for a couple of quarters.”
About the SEEK ASI
The SEEK ASI measures the change in advertised salaries over time for jobs posted on SEEK in Australia, removing much of the effect of compositional change.
The SEEK ASI is a complement to existing data about the growth in wages and salaries in Australia, including the ABS’ WPI. The WPI is a measure of the pace of wages growth across the economy.
The SEEK ASI provides a timely and frequent read on the pulse of advertised salary growth in Australia for vacant roles.
More information about how the SEEK ASI is put together and the data files associated with this report can be found here.