Seek’s employment data has deteriorated badly over the past year, with job ads falling back to pre-pandemic levels and the number of applicants per job ad soaring around 50% above pre-pandemic levels, reflecting the combination of stalling demand and the record growth in labour supply (courtesy of record immigration).
Reflecting the growing labour market slack, Seek’s advertised salaries index has stalled at 4.4% growth in the year to February, down last year’s peak of around 4.8%:
Advertisement
Advertised salaries rose by 0.2% for the second consecutive month in February, with quarterly growth also slowing to 0.7% (2.8% annual rate):
