SEEK Advertised Salary Index - May
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 August and will contain industry and state trends.
NATIONAL ADVERTISED SALARY TRENDS
Advertised salaries rose 0.3% m/m in May. Monthly growth of advertised salaries has slowed a little in recent months.
Annual advertised salary growth was unchanged at 4.1% y/y in May, remaining relatively firm but below the fast pace recorded over 2022 and 2023.
SEEK Chief Economist, Dr Blair Chapman says:
“Advertised salaries rose 0.3% in May, leaving annual growth steady at 4.1%. Annual growth remains relatively strong, but the monthly pace has softened in recent months.”
“The recent moderation in monthly advertised salary growth likely reflects a more challenging environment for businesses. Lower confidence, higher costs and increased uncertainty are weighing on hiring conditions, meaning employers are still lifting pay, but doing so more cautiously.”
Figure 1: Month-on-month growth of SEEK Advertised Salary Index
Note: seasonally adjusted. Source: SEEK.
Figure 2: Year-on-year growth of SEEK Advertised Salary Index
Note: seasonally adjusted. Source: SEEK.
ENDS
More information about how the SEEK ASI is put together and the current data can be found here.
NOTES TO EDITOR
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 Chief Economist.
About the SEEK ASI
TheSEEKASImeasuresthe 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.
Disclaimer
The Data should be viewed and regarded as standalone information and should not be aggregated with any other information whether such information has been previously provided by SEEK Limited, ("SEEK"). The Data is given in summary form and whilst care has been taken in its preparation, SEEK makes no representations whatsoever about its completeness or accuracy. SEEK expressly bears no responsibility or liability for any reliance placed by you on the Data, or from the use of the Data by you.