'Industries experiencing prolonged demand for workers… recording strong growth in advertised salaries'
The rate of growth in advertised salaries in Australia increased 4.3% year-on-year in April, according to new data from SEEK.
"While annual advertised salaries are still outpacing inflation, this is mostly due to the strong growth experienced mid-last year," said Leigh Broderick, SEEK Head of Market Data & Customer Analytics, in a statement, adding the index “does appear to be slowing over recent months in line with labour demand.”
Australia's advertised salary growth rate also picked up both monthly (0.3%) and quarterly (0.8%).
"After three straight months of subdued advertised salary growth amidst a cooling jobs market, the pace of growth ticked up slightly to 0.3% in April month-on-month," Broderick said.
Tasmania led Australia's states and territories when it comes to advertised salary growth in the past 12 months, according to the index. It registered a 6.7% increase annually, while also logging at 1.7% hike in the past three months.
Source: SEEK's Advertised Salary Index
By industry, the Community Services and Development registered the highest annual advertised salary growth across Australia with 8.1%.
SEEK attributed the sector's position to the wage rises for aged care workers but noted its "slowing" impact after it registered a higher 8.6% growth rate in January.
The Education and Training sector saw the second-highest growth rate in Australia with 7.1%, while the Human Resources and Recruitment sector saw a 3.3% increase, according to the report.
The lowest increases were recorded in the sectors of Banking and Financial Services (0.7%), and the Information and Communication Technology (0.8%).
"Industries experiencing prolonged demand for workers, such as Education & Training and Healthcare & Medical, are also recording strong growth in advertised salaries," Broderick said.
"Roles in Information & Communication Technology, which have experienced a notable downturn in worker demand over the last two years, albeit off a high base, are seeing more sluggish growth in advertised salaries."
Source: SEEK's Advertised Salary Index
