Advertised salaries rise faster than prices

  • Advertised salaries in Australia rose by 0.3% month-on-month in December
  • Advertised salaries grew by 4.5% in the year to December
  • Advertised salaries are now rising faster than prices
  • Falling real wages have put pressure on household budgets
  • Consumer confidence has dropped to recession-like lows

A big fall in Australian real wages over the last two years looks like it is ending with advertised wage increases outstripping inflation in December. Advertised salaries rose by 0.3% month-on-month in December, the same growth rate as October and November, according to employment portal SEEK. Advertised salaries grew by 4.5% in the year to December, the same as the year to November. Falling real wages has heaped pressure on household budgets which have also had to deal with rising costs for basic needs and a record jump in mortgage interest rates. The fall in real wages has contributed to a drop in consumer confidence to recession-like lows.

Public Companies: SEEK (SEEK)
Private Companies:
Key People: Matt Cowgill (SEEK senior economist)

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Factuality Level: 7
Justification: The article provides specific data on the growth of advertised salaries and compares it to inflation rates. It also mentions the impact of falling real wages on household budgets and consumer confidence. However, the article does not provide a comprehensive analysis of the factors contributing to the fall in real wages or the potential implications of the wage increases.

Noise Level: 6
Justification: The article provides some relevant information about the increase in advertised salaries in Australia, but it lacks in-depth analysis and fails to provide evidence or data to support its claims. It briefly mentions the impact of falling real wages on household budgets and consumer confidence, but does not explore these consequences further. Overall, the article contains some noise and lacks scientific rigor.

Financial Relevance: Yes
Financial Markets Impacted: The article does not provide information on specific financial markets or companies impacted.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the improvement in Australian real wages, which is relevant to the financial aspect of the economy. However, there is no mention of any extreme events or specific financial markets/companies impacted.

Reported publicly: www.marketwatch.com