Advertised salaries across New Zealand grew by 4.4% in the three months ended February 2023 when compared to the same period last year. This growth second-fastest growth recorded in the data set beginning 2016, according to job board Seek.

Quarter-on-quarter growth of 0.9% has been broadly consistent over the past year, though it has slowed a little compared to the 1.1% quarterly growth in the previous quarter.

Seek NZ Country Manager, Rob Clark, said, “Advertised salaries in New Zealand are growing at close to their fastest pace on record, but they’re still lagging the cost of living.”

The Cost Price Index (CPI) rose by 7.2% in New Zealand in the year to the December quarter 2022, outpacing the 4.4% growth in advertised salaries in February 2023.

In terms of industry trends, Advertising, Arts and Media saw the largest year-on-year growth in the February quarter. Design and Architecture followed (8.8%).

By region, Auckland saw the highest growth at 5.4%, followed by Canterbury 4.7%.