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SEEK Advertised Salaries Signal Easing Wages Growth

AUSTRALIA DATA

SEEK advertised salaries grew another 0.2% m/m in February which resulted in a slight moderation in annual growth to 4.4% from 4.5%, which remains elevated but 0.5pp off September’s peak. 3-month momentum is also easing falling to 3.2% annualised, its lowest in two years, signalling an imminent easing in annual pay growth. While advertised wage growth is still a percentage point above inflation, it looks like it is close to a turning point in line with the RBA’s view that wages growth “appears to have peaked” and the labour market is gradually easing.

Australia SEEK advertised salary index

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SEEK advertised salaries grew another 0.2% m/m in February which resulted in a slight moderation in annual growth to 4.4% from 4.5%, which remains elevated but 0.5pp off September’s peak. 3-month momentum is also easing falling to 3.2% annualised, its lowest in two years, signalling an imminent easing in annual pay growth. While advertised wage growth is still a percentage point above inflation, it looks like it is close to a turning point in line with the RBA’s view that wages growth “appears to have peaked” and the labour market is gradually easing.

Australia SEEK advertised salary index

Keep reading...Show less