Average advertised salaries on job board Seek in Australia were 4.0% higher in October 2022 compared to October 2021. The slight uptick in annual growth is related to the Covid-19 lockdowns of late 2021.

When compared to the previous month, advertised salaries have grown by approximately 0.4%.

On a quarterly basis, when comparing July to October, average advertised salaries were up 1.2%.

Seek noted that advertised salary growth has fallen a little since early 2022, but the strong labour market and the surge in inflation have pushed advertised salary growth far above pre-Covid-19 levels.

By state, Tasmania has seen the most rapid growth in advertised salaries, both over the year to October (6.2%) and in the three months to October (2%). The Northern Territory saw advertised salaries growing by 6.1% in the year to October 2022.

Meanwhile, advertised salaries in the Australian Capital Territory (ACT) grew by 1.3% over the year to October, reflecting ongoing sluggishness in public sector wages growth.

By industry, Trades & Services reported 6.2% annual growth in October while on the other hand government reported a decrease of 1.5%.

Seek Senior Economist, Matt Cowgill, said, “Although advertised salary growth remains solid, it’s not keeping up with the cost of living. It’s also not continuing to accelerate. This is bad news for workers in the short-term, but will reassure fiscal and monetary policymakers that we’re not seeing a wage-price spiral that would further push up inflation.”

“On a positive note, the lowest paid jobs have seen the biggest rise in advertised salaries in the past year, reflecting strong demand for workers in relatively-low paid industries and also the larger-than-usual minimum wage rise in July this year,” Cowgill said.