Salary Reports

SEEK Advertised Salary Index - June

July 23, 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 August and will contain industry and state trends.

NATIONAL ADVERTISED SALARY TRENDS

Advertised salary growth remained steady in June at 0.3% month-on-month.
The annual rate of growth has remained at 4.3% for the past four months.

Leigh Broderick, SEEK Head of Employment Analytics, says:

“Average advertised salaries are growing at a consistently higher rate than before COVID, but have slowed since September last year, when they rose 0.5% month-on-month.

“Despite job ads coming off historic highs two years ago, employment remains strong which is supporting growth in advertised salaries.”

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.

-ENDS-

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.

More information about how the SEEK ASI is put together and the data files associated with this report can be found here.