SEEK Advertised Salary Index - June
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 August and will contain industry and state trends.
NATIONAL ADVERTISED SALARY TRENDS
Advertised salary growth rose by 0.2% m/m in June, the slowest monthly growth since December 2021.
Annual advertised salary growth slowed to 3.5%, the slowest rate of annual growth since August 2021.
SEEK Senior Economist, Dr Blair Chapman says:
“Advertised salary growth slowed to 3.5% year-ended in June, with both annual and monthly growth the slowest since 2021.”
“The annual growth in average advertised salaries is still outpacing the growth in prices. Combined with recent cuts in mortgage rates, existing borrowers who have switched jobs should be able to purchase more goods and services, save more, or pay down their mortgage faster.”
“The increase in the National Minimum Wage and modern award wage rates of 3.5% from 1 July should support advertised salary growth in the near term.”
Figure 1: Month-on-month growth of SEEK Advertised Salary Index
Note: seasonally adjusted. Source: SEEK.
Figure 2: Year-on-year growth of SEEK Advertised Salary Index
Note: seasonally adjusted. Source: SEEK.
NOTES
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.