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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.
AUSTRALIA DATA
The SEEK advertised salaries index rose 0.4% m/m in March to be up 4.7% y/y. February rose 0.3% m/m and 4.7% y/y. Q1 rose 0.9% q/q down from Q4’s 1.3% but higher than 2019’s average of 0.5%. Q1 WPI prints on May 17. The index shows that employers continue to offer higher-than-usual salaries to attract people with the right skills.
- March posted the highest monthly rise since November 2022 and the annual rate of 4.7% is not far off December’s peak of 5%. Offered wages remain elevated signalling that demand for labour is still strong and that the labour market remains tight.
- Today’s Q1 CPI data will be important for expectations for the May 2 RBA meeting (see Q1 CPI Data To Ease, Watch Domestic Components for more detail). But the SEEK wages data is currently another piece of information likely to mean rates are increased again.
Australia wages 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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