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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
September SEEK data is showing that there was a pickup in advertised salary growth in Q3 to 1.3% q/q from 1% in Q2. September rose 0.4% m/m to be up 4.8% y/y, unchanged from August and only 0.2pp below the peak in December 2022. The official WPI for Q3 is not released until November 15 but the SEEK data is implying that it will post a quarterly increase above 1%. This is another piece of information that is likely to keep the RBA “wary”.
- SEEK notes that despite the turning in the labour market, advertised pay growth is “still running hot” but it expects it to moderate going forward. Q3 was impacted by the increase in the minimum award wage in July but also the increase in aged care pay.
Australia pay growth y/y%
Source: MNI - Market News/SEEK/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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