'The labour market has been more balanced of late,' says economist
The advertised salary for HR and recruitment roles went up by 4.6% in the year to January, as overall annual advertised salary growth across Australia remained steady.
Findings from the SEEK Advertised Salary Index for January showed that annual advertised salary growth has been steady at 3.6% for three months.
"Advertised salary growth has been steady at 3.6% year-ended in recent months, well above headline inflation of 2.4% seen over a similar period," said Dr. Blair Chapman, SEEK senior economist, in a statement.
For HR and recruitment roles, advertised salary increased by 4.3% annually, and 1.3% from October 2024 to January 2025, according to SEEK.
Legal roles saw the biggest increase in advertised salary, growing by 7.8% annually. They are followed by roles in real estate and property, which recorded an annual increase of 6.2%.
On the other hand, roles for Advertising, Arts, and Media saw the smallest increase in advertised salary with one per cent year-on-year.
Source: SEEK Advertised Salary Index
By location, advertised salary grew the fastest in the Australian Capital Territory with 4.6% in the year to January. Others recorded the following:
Queensland (4.1%)
South Australia (3.7%)
Western Australia (3.4%)
Victoria (3.4%)
New South Wales (3.2%)
Northern Territory (3.0%)
Tasmania (2.9%)
Chapman said despite the growth in advertised salary, this remains below the pace of growth in living costs for households that earn a salary from employment.
"This group also tends to have mortgages or pay rent, which may explain why so many people are still feeling the cost-of-living crunch," Chapman said.
The economist predicted that the situation will be "a little subdued" this year, with advertised salary growth unlikely to slow to levels seen last year.
"The labour market has been more balanced of late suggesting that we are less likely to see advertised salary growth slow as much in the near term as it did in 2024," Chapman said.
"With fewer people intending to quit their jobs in 2025, the flow through from advertised salary growth to overall income and wage growth may be a little subdued this year."
