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Advertised Salary Growth Elevated But Stabilised

AUSTRALIA DATA

The SEEK advertised salary index rose 0.3% m/m in February to be up 4.5% y/y. This is in line with January’s 0.2% m/m and 4.4% y/y but indicates that offered wages remain robust in the current environment of persisting skills shortages. Advertised salary growth has stabilised, thus suggesting the absence of a wage-price spiral, but it remains elevated. Q1 WPI is released on May 17.

Australia wages y/y%

Source: MNI - Market News/ABS/SEEK

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