SEEK’s chief immigration flunky, Matt Cowgill, with the news.
“Finally, advertised salaries are rising faster than prices once again. After a long period of declining real wages, the SEEK ASI is now rising in real terms again, with 4.5% advertised salary growth outpacing inflation at 4.3%.
“SEEK ASI growth held steady at 0.3 per cent each month in the final quarter of 2024. Although this is solid growth, it’s a clear slowdown from the previous quarter, when Fair Work Commission decisions delivered a bump to wages growth.”
If we extract the recent Fair Work bump, wage growth has already slowed to a six-month moving average of 3.5%, well below inflation.
And there is more slowing ahead as immigration crushes worker pricing power. What it is designed to do:
These are the facts.
