Advertised salaries rising at ‘decent pace’, quicker than in Australia

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Salaries on offer are rising faster than the annual rate of inflation at 5 percent, and faster than what’s seen in Australia.

The SEEK Advertised Salary Index (ASI) rose 1.0 percent in the three months to February compared with the quarter ended November, with all regions seeing growth.

“Advertised salaries are growing at a decent pace, outpacing inflation and Australian salaries, helped by some large pay settlements in the public sector,” Seek country manager Rob Clark said.

“But as the jobs market cools, we’re seeing salaries grow more slowly. Advertised salaries were up 1 percent in the past quarter, the slowest quarterly rate since late 2022.”

Salaries rose 1.4 percent in the quarter ended August, followed by 1.1 percent in the November quarter and 1.0 percent in February.

Canterbury experienced the fastest rise in advertised salaries at 1.4 percent quarter-on-quarter growth in February or 6.9 percent year-on-year.

The fastest growth in advertised salaries was in healthcare and medical at 11.2 percent year-on-year, reflecting increases in collective agreement settlements.