Seek Australia has released its advertised salary index, indicating the changes in advertised salaries over time for jobs posted on the site.
For the year up to January 2023, Seek reports that advertised salaries in design and architecture recorded the second highest hike over the past year of all industries recorded in the survey.
Architecture and design recorded a 6.2 increase in advertised salaries, behind the trades and services industry which experienced the highest growth in at 6.3 percent.
Seek reported an average yearly change of a 4.4 percent increase to advertised salaries across all industries from January 2022 to January 2023.
Seek senior economist matt Cowgill said that while advertised salary growth is still strong in Australia, there are signs that we may have reached the peak .
“The rate of month-on-month growth in advertised salaries has fallen for two consecutive months and was a relatively anaemic 0.2 percent in January,” said Cowgill. “This moderation in advertised salary growth echoes some other labour market indicators, such as the unemployment rate and job ad volumes. However, the labour market is still very tight, just not as tight as it was a few months ago.
“Although growth in advertised salaries remains strong, at 4.4 percent it’s still well behind the 7.75 percent inflation rate. That means real, inflation-adjusted advertised salaries are falling, adding to the cost-of-living squeeze on Australian workers.
“Advertised salaries continue to grow faster than overall wages and salaries, suggesting that employers are still in a bidding war for talent and so changing jobs is still a good way to get a pay rise for those feeling the pinch.”
Source: Architecture - architectureau
