SEEK ASI Shows Near Record Salary Growth, Still Comfortably Lagging Inflation

The latest SEEK New Zealand Advertised Salary Index, covering the month of February, revealed that “advertised salaries grew by 4.4% in the year to the February 2023 quarter close to the fastest growth recorded in the data set beginning 2016. 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% in the previous quarter.”

• SEEK noted that “advertised salaries in New Zealand are growing at close to their fastest pace on record, but they’re still lagging the cost of living. Advertised salary growth has been solid across the country, with the exception of Wellington where growth has been more modest. The competition for talent in industries like Hospitality & Tourism is pushing up advertised salaries, particularly for lower-paid roles.”