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November Job Report: Wage Growth Delivers Early Christmas Present

Average advertised salaries have increased 4% year-on-year to reach a high of $94,182, according to research by jobs website adzuna.com.au.

The research supports recent ABS data released on Wednesday, which revealed wages have grown at the fastest rate in three years, increasing 2.3% in 2018.

Adzuna CEO Raife Watson predicts more increases for Australian workers in the coming months.

“It is fantastic to see actual wage growth finally catching up with advertised salaries, which have been trending up for some time now.

“We have seen strong advertised salary growth across a diverse range of industries and expect employees to be rewarded with higher pay packets after enduring a gruelling period of flat wage growth,” Mr. Watson said.

 

 

Salaries increased across most industries, with many achieving double-digit growth. The sole industries to record a year-on-year decline are Human Resources (-1%), Manufacturing (-2%), Scientific & QA positions (-1.5%), and Design Jobs (-6%).

Adzuna CEO Raife Watson says, “With interest rates expected to rise in the near future, wage growth is welcome news to many Australian house-holds who will feel the pinch when mortgage repayments increase.

“I encourage Australian workers to sit down at their next pay review armed with the recent information about wages. Speak to your boss about the changing conditions in the Australian jobs market and stake your claim for better pay,” Mr. Watson said.