SEEK Advertised Salary Index - August
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 in November and will contain industry and state trends.
National Advertised Salary Trends
Advertised salary growth rose by 0.3% m/m in August, the fastest monthly growth since April.
Annual advertised salary growth accelerated slightly to 3.4% y/y, a small uptick from the four-year low recorded in July.
SEEK Senior Economist, Dr Blair Chapman says:
“Employment continues to grow, and the unemployment rate remains low by historical standards. As a result, we continue to see solid growth in advertised salaries, which in August rose to 3.4% year-ended with monthly growth at a reasonably fast 0.3%.
“That said, annual advertised salary growth continues to trend down, dropping 1.4 percentage points on its September 2023 peak. Employment is now growing at a much more typical pace of around 2% annually, compared to the 3% and above recorded in 2023.”
ENDS
The full data for this report can be found here.
NOTES
When reporting SEEK data, we request that you attribute SEEK as the source and refer to SEEK as an employment marketplace.
Commentary relating to the SEEK ASI can be attributed to Dr Blair Chapman, SEEK Senior Economist.
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.