New data shows average advertised salaries saw a 3.1% annual growth
Advertised salaries in New Zealand continued to outpace inflation after reporting a 3.1% annual growth in the year to November, according to the latest SEEK NZ data.
The SEEK Advertised Salary Index also revealed that the average advertised salaries annually decreased by around two percentage points since November last year.
But it continues to remain ahead of the country's 2.2% annual inflation rate in the September 2024 quarter.
"Although the rate of annual growth continued to slow, average advertised salaries continue to outpace annual inflation," said Rob Clark, SEEK country manager, in a statement.
By region, the biggest annual advertised salary growth was recorded in Wellington, Canterbury, and the Rest of North Island with 3.6%.
By industry, robust annual increases were reported in Education and Training (6.3%), Insurance and Superannuation (5.6%), as well as Engineering (5.5%).
The human resources and recruitment industry also recorded a 1.3% increase annually.
"Government and government-related industries were among those that grew the fastest, with Education & Training, Government and Healthcare & Medical among those that outpaced inflation more than twice over," Clark said.
The findings come as the New Zealand government announced that it is raising the adult minimum wage to $23.50 an hour starting in April 2025, a modest 1.5% increase from the current rate.
