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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
The SEEK advertised salary index rose 0.4% m/m in July up from 0.3% the previous three months. This brought the annual rate to 4.6% from 4.5% in June. While advertised pay is off its December peak of 5% y/y, it remains elevated and with the 3-month rate steady at about 1% signals that labour shortages persist in a tight market. The tick up also coincided with an increase in job ads suggesting a pickup in labour demand.
- SEEK notes that there wasn’t especially strong offered wage growth in those industries linked to awards such as hospitality but that the 5.75% increase from July 1 probably has provided some support.
- Queensland saw the strongest growth at 5.3% y/y. Trades & services increased 5.9% and retail +5.5% whereas government was only 0.9%.
Australia SEEK advertised salary index %
Source: MNI - Market News/SEEK
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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