Advertised salaries increased by +0.4 per cent in March, according to SEEK.
Over the year, salaries were up +4.7 per cent in March, the same as in February.
In SEEK's words, the labour market is still running hot, but it's no longer getting hotter.
This index tends to run higher than the ABS wage price index, so it looks like wages growth on the official figures will peak out at under 4 per cent.
Australia hasn't faced the challenges of red hot wages growth that some other countries have done.
And now we have rampaging population growth accelerating to +523,000 over the year to March...so that'll do the trick.
Commsec came out with a really interesting way to look at the population bust to boom rebound:
There shouldn't be any shortage of labour in retail and hospitality going forward, but there might be an ongoing shortage of places to rent.
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Next week will see the release of the key official inflation figures.
It looks likely that inflation peaked in late 2022, with trimmed mean inflation likely to slow from around 6.9 per cent to 6.6 per cent over the year to March 2023.
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ANZ cut its fixed mortgage rates by up to 60 basis points today, reflecting the peak of the interest rate cycle:
Source: Eric Wu, Property Talk Australia
Some lenders have been nudging their variable rates a little higher over the past week or two.
