SEEK Advertised Salary Index - December
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 February and will contain industry and state trends.
NATIONAL ADVERTISED SALARY TRENDS
Growth in the SEEK ASI picked up in December by 0.3% m/m after growing at 0.2% for the previous two months.
Annual growth in advertised salaries increased slightly in December to 3.6% y/y, after reaching 3.5% y/y in November, its lowest level since August 2021.
SEEK Senior Economist, Dr Blair Chapman says:
“Although the labour market is close to being broadly balanced, some economic indicators suggest it tightened a little towards the end of 2024 – so, it is unsurprising that advertised salary growth picked-up slightly at the end of the year.
“Employment growth has slowed, and job ads have declined over the past year which suggests advertised salary growth is likely to resume slowing over the coming months as labour demand eased a lot over 2024.
“Advertised salary growth was around 1 percentage point lower over 2024 than it was in 2023, while inflation is expected to have decreased by more than 1.5 percentage points over the same period, which is good news.”
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.