Advertised salaries across Australia grew by 4.7% in March 2023 when compared to the same period last year. The 4.7% growth was in line with the 4.7% increase in the year to February 2023.

Advertised salaries grew over the month by 0.4% in March 2023, up from the 0.3% monthly growth recorded in February 2023.

When compared to December 2022, advertised salaries grew by 0.9% in March 2023.

Seek Senior Economist, Matt Cowgill, said, “There were signs that advertised salary growth was starting to cool, but things have turned around, with advertised salaries up by 0.4% month-on-month in March.”

"The labour market’s no longer getting hotter, but it’s still running hot, with unemployment hovering around its lowest level in 50 years,” Cowgill added. “This strong demand for labour is keeping advertised salary growth up, with advertised salaries up 4.7% over the year to March.”