Wages growth decelerating
Over the past year, the growth in advertised wages has been led by Queensland, with a very solid +5.5 per cent.
However, over recent months the trend has been coming off hard, except in New South Wales, which still managed +1.2 per cent growth in the wages index over the past quarter.
Source: SEEK
The growth between March and April was just +0.2 per cent.
Source: SEEK
This is further evidence that as labour supply floods into the country wages growth peaked in the the third quarter of 2022, and is now decelerating.
There's only been modest growth in this index over the past six months.
