Australian Economy

SEEK advertised salaries index confirms slowing wage growth

Leith van Onselen
Tuesday 28 February 2023
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Last week’s soft wage growth data from the Australian Bureau of Statistics (ABS) has been confirmed by SEEK’s Advertised Salaries Index, which has decelerated over the past two months.

Seek annual salary growth

Specifically:

  • Advertised salaries on SEEK in Australia rose by 4.4% in the year to January 2023.
  • Annual growth in January (4.4%) was slightly lower than the year to December 2022 (4.6%).
  • Month-on-month (m/m) growth in the SEEK Advertised Salary Index (ASI) has fallen for two consecutive months.
  • Over the past year, rapid growth in advertised salaries has become less common across the sub-industries, with a broader range of job-types now running at more moderate levels.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.