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Australia’s advertised salaries pick up 4.3% in April

Australia’s advertised salaries pick up 4.3% in April

May 28, 2024
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Across Australia advertised salaries picked up in April, rising 4.3% year-on-year, according to the latest Salary Index from Australian job board Seek.

The 4.3% annual growth was a slight improvement over March’s 4.2% annual increase.

Monthly growth picked up 0.3% in April.

In Tasmania, advertised salaries increased further year-on-year by 6.7%, the highest growth among states.

The Australian Capital Territory saw advertised salaries pick up 4.6% year-on-year. New South Wales recorded growth of 3.8% over the year, the lowest among states.

Among industries, the community services & development industry saw advertised salaries rise 8.1% over the year. This was followed by education and training (7.1%). The lowest growth was seen in banking & financial services (0.7%).

Seek head of market data & customer analytics, Leigh Broderick said, “While annual advertised salaries are still outpacing inflation, this is mostly due to the strong growth experienced mid-last year, and Seek’s Advertised Salary Index does appear to be slowing over recent months in line with labour demand.”

“Industries experiencing prolonged demand for workers, such as education & training and healthcare & medical, are also recording strong growth in advertised salaries. Roles in information & communication technology, which have experienced a notable downturn in worker demand over the last two years, albeit off a high base, are seeing more sluggish growth in advertised salaries,” Broderick added.