Advertised salaries across Australia grew by 4.8% in the year to April 2023 according to job board Seek. Advertised salaries grew in every state and territory in the year to April 2023.

While year-on-year growth was strong, Seek stated there was more modest growth in the past six months in particular.

Despite the advertised salary growth in April, it continues to lag inflation.

On a monthly basis, the advertised salaries rose by 0.2%. On a quarterly basis, advertised salaries increased by 1.0%.

Seek Senior Economist, Matt Cowgill, said, “Advertised salary growth remains strong, but it’s not accelerating. We’re not seeing a price-wage spiral, where advertised salaries keep rising in response to higher inflation. Advertised salary growth still lags far behind the rising cost of living, however the gap is narrowing.”

“Although year-on-year advertised salary growth was very strong, there are some signs that it is starting to moderate. Growth in the past six months has been slower than in the six months prior to that period,” Cowgill said.

“Advertised salary growth continues to outpace overall wages and salaries growth, as is measured by the Australian Bureau of Statistics’ Wage Price Index,” Cowgill continued. “Additionally, those in the lowest pay bracket are experiencing significantly faster rises than the higher brackets. Middle-earners are experiencing the slowest growth of all.”

By industry, advertised salaries rose by 6.7% in trades and services, the highest growth over the year.

By state/territory, Queensland reported the highest growth over the year with a 5.5% increase. This was followed by New South Wales (4.8%) and Western Australia (4.7%).

Advertised salaries have grown fastest for the lowest-paid jobs. Jobs in the bottom paid fifth of the workforce experienced 5.4% growth in advertised salaries over the year. Meanwhile, jobs in the top fifth saw growth of just 3.6%.