Advertised Salary Index September 2023
The SEEK Advertised Salary Index (ASI) measures the growth in advertised salaries for jobs posted on SEEK in Australia. This report examines national trends up to the month of September 2023. The next quarterly SEEK ASI report will be released in November and will contain industry and state trends.
NATIONAL ADVERTISED SALARY TRENDS
Advertised salaries rose 4.8% in the year to September, the same as in the year to August.
Month-on-month ASI growth fell slightly from 0.5% in August to 0.4% in September.
SEEK Senior Economist, Matt Cowgill says:
“Advertised salary growth is still running hot, even as the labour market has started to cool.
“The big month-on-month increases we saw in July moderated a little in September, as the once-off effect of the Fair Work Commission’s aged care award wage rise and the Annual Wage Review have now passed. But advertised salary growth is still robust at 0.4% month-on-month and 4.8% year-on-year.
“With the labour market now moving towards a more normal balance between supply and demand, advertised salary growth is likely to fall from here.”
Figure 1: Year-on-year growth of SEEK Advertised Salary Index
Note: seasonally adjusted.
Source: SEEK.
Figure 2: Month-on-month growth of SEEK Advertised Salary Index
Note: seasonally adjusted.
Source: SEEK.
About the SEEK ASI
The SEEK ASI measures the 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 (Wage Price Index). The WPI is a measure of the pace of wages growth across the economy, for jobs that are currently occupied. The SEEK ASI provides a timely and frequent read on the pulse of advertised salary growth in Australia for vacant roles.
More information about how the SEEK ASI is put together can be found here. The data for the SEEK ASI can be found here.
Disclaimer
The data should be regarded as standalone information and should not be aggregated with any other information.The data is given in summary form and whilst care has been taken in its preparation, SEEK makes no representations about its completeness or accuracy. SEEK expressly bears no responsibility or liability for any reliance placed on the data, or from the use of the data.