Locals will see advertised salaries continue to climb, with the SEEK Advertised Salary Index (ASI) reporting a 0.7% increase nationwide in the quarter to November.

While annual growth has slowed compared to last year’s peak, salaries remain ahead of inflation.

SEEK’s data shows a year-on-year growth rate of 3.1%, surpassing the annual inflation rate of 2.2% for the year ending September 2024.

Regional Trends

Wellington led the country with a 1.0% quarter-on-quarter increase in average advertised salaries.

Auckland and Canterbury followed closely, both recording a 0.8% rise.

Wellington, Canterbury, and the North Island (excluding Auckland) showed the strongest annual growth at 3.6%.

Meanwhile, growth across the South Island’s regional areas slowed following faster gains in 2023.

Industry Trends

The Education & Training sector experienced the fastest annual growth at 6.3%.

Increased demand, particularly from international students, and upcoming agreed pay rises for teachers contributed to the sector’s performance.

Government-related sectors, including Healthcare & Medical, also reported robust increases, supported by public sector wage growth.

In contrast, advertised salaries in Real Estate & Property declined slightly by 0.3% year-on-year, although they rose by 0.6% during the quarter.

Legal (-1.1%) and Consulting & Strategy (-0.1%) industries also recorded declines in the quarter to November.

SEEK Country Manager Rob Clark said the figures reflect sustained growth despite an overall slowdown.

“Although the rate of annual growth continued to slow, average advertised salaries continue to outpace annual inflation. Additionally, we saw an increase in the rate of growth in the November quarter.”

The latest data shows that while salary growth is moderating, sectors experiencing high demand, particularly government-related industries, continue to see gains.

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