SEEK NZ’s Advertised Salary Index reports a 2.4% increase in advertised salaries in May, just under the March inflation figure of 2.5%. The figures reflect a continued slowdown from the wage acceleration seen during the tight labour conditions of recent years.
High-Growth Sectors Drive Salary Outperformance
Science and technology recorded the highest annual salary growth among sectors, with advertised wages up 8.8%. Real estate and property rose 8.4%, and mining, resources, and energy increased 6.3%. SEEK NZ’s data show these sectors growing faster than the 2.4% national average.
“Around half of all industries are seeing their average advertised salaries growing faster than inflation, which is good news for job seekers in these industries,” said Rob Clark, SEEK NZ’s country manager. Human resources and recruitment, as well as advertising, arts, and media, saw salaries decline by 0.2%.
Regional Trends Reveal North–South Salary Gap
The Rest of the North Island led regional wage growth with a 2.9% increase in advertised salaries over the past year. Auckland followed at 2.7%.
Wellington recorded 1.8% growth, and the Rest of the South Island posted the lowest regional figure at 1.2%. The South Island saw a quarterly increase of 0.8%.
“Average annual growth across the Rest of the South Island has picked up in the most recent quarter, likely driven by notable employment growth in Otago which has added a lot of jobs over the past year,” Clark said.
Labour Market Signals Normalisation
Wage growth has slipped beneath the rate of inflation, with economists pointing to this trend as a sign of labour market adjustment. Tech and mining remain among the strongest-performing sectors, reflecting ongoing demand for specific skill sets. The data are drawn from SEEK NZ’s Advertised Salary Index, which tracks salary movements across 27 industries.