SEEK wage growth goes down the toilet

Hoocoodanode? Certainly not SEEK’s immigration fanboy, Matt Cowgill, who writes:

Advertised salary growth is cooling in line with the labour market, but remains robust at 4.5% annually.

Blah, blah, blah.

What Matt doesn’t say is that the last four months of wage rises annualised are 3.1% and falling fast:

This is the weakest four-month stretch since COVID.

It is not going to get better because mass immigration is swamping available jobs:

This is what fake lefties like our Matt will never admit, which amounts to their preference for identity over class politics.

They might as well work for the Business Council of Australia.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.