SEEK Advertised Salary Index February
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 April and will contain industry and state trends.
NATIONAL ADVERTISED SALARY TRENDS
Advertised salary growth rose by 0.3% m/m in February, with relatively stable growth in recent months.
Annual advertised salary growth has been steady at 3.6% since November but has slowed by 0.9 percentage points since February last year.
SEEK Senior Economist, Dr Blair Chapman says:
“Advertised salary growth remained steady at 3.6% year-ended in February, although there has been a slight increase in monthly growth rates since October.”
“Advertised salary growth had been slowing alongside a loosening labour market, with annual growth down 1.3 percentage points from its peak in September 2023. The deceleration has stalled recently as a more balanced labour market has emerged over the second half of 2024.
“Headline inflation remains below advertised salary growth. Although some households are still doing it tough, with their living costs rising faster than salaries, recent mortgage rate cuts should help.”
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.