The Australian Institute of Manangement (AIM) has released its 2013 National Salary Survey, which is based on responses from 478 companies across Australia.
According to the AIM, Australian salary growth is expected to slow over the 2013-14 financial year – to 3.8% from 3.9% in 2012-13 and 4.1% in 2011-12, with the “downward trend… forecast to continue across all states, most notably in Western Australia”.
AIM spokesman, Matt Drinan, also noted that the employment “indicators are not good”.
According to the Survey, less than one-half (46.4%) of companies are expecting to increase permanent staffing levels over the next 12 months, down from 54% expecting to do so in the 2012 survey.
More worryingly, the proportion of Australian employers intending to cut staff has risen to its highest level in three years, with an average of 14.8% of companies seeking to reduce employee headcount over the 2013-14 financial year.
When viewed in light of the ongoing weak job adds data, the AIM Survey provides further confirmation that the Australian labour market remains soft.
