SEEK Advertised Salary Index - September
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 for the second month in a row in September.
Annual advertised salary growth ticked back up to 3.5% and has sat between 3.3% and 3.7% since October last year.
SEEK Senior Economist, Dr Blair Chapman says:
“After slowing earlier this year, following a couple of weak months of growth, annual advertised salaries have risen to 3.5% year-ended in September. The decision by the Fair Work Commission to increase the National Minimum Wage and all modern award minimum wage rates by 3.5% on 1 July is likely contributing to this increase in advertised salaries.
“Labour market conditions are no longer as supportive of the fast advertised salary growth that we saw in early 2024, with a slowdown in employment growth alongside a decline in participation this year.
“That said, advertised salaries have still grown faster than the price of goods and services so far this year, which is good news for those who have been able to take advantage of the higher salary offers. Variable mortgage rate holders have also likely benefited from reductions in their loan repayments, allowing them to spend or save more.”
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.