Salary Reports

SEEK Advertised Salary Index - December 2023

January 22, 2024

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 February and will contain industry and state trends.

NATIONAL ADVERTISED SALARY TRENDS

The SEEK ASI rose by 0.3% month-on-month in December, the same growth rate as October and November
Advertised salaries grew by 4.5% in the year to December, the same as the year to November.

SEEK Senior Economist, Matt Cowgill says:

“Finally, advertised salaries are rising faster than prices once again. After a long period of declining real wages, the SEEK ASI is now rising in real terms again, with 4.5% advertised salary growth outpacing inflation at 4.3%.

“SEEK ASI growth held steady at 0.3 per cent each month in the final quarter of 2023. Although this is solid growth, it’s a clear slowdown from the previous quarter, when Fair Work Commission decisions delivered a bump to wages growth.”

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.

Please note that there have been some revisions to the data underlying the SEEK ASI for prior months.

ENDS

NOTES

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 Matt Cowgill, SEEK Senior Economist.

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. 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.