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Australians who want a pay rise are much more likely to get it if they change jobs rather than lobbying their boss.
Employment website Seek found that those who found a new employer were 1.6 times more likely to get a raise, based on a survey of 1,200 people in 2023.
Seek senior economist Matt Cowgill said that with unemployment now at a two-year high of 4.1 per cent, bosses did not need to struggle to retain staff as they did last year.
“With unemployment rising and fewer jobs advertised than a year ago, employers don’t have to compete as hard for talent to fill open positions,” he said.
Australian wages are finally outpacing inflation, ending almost three years of workers suffering real pay cuts.
But wage price index growth of 4.2 percent was only 0.1 percentage point above the inflation rate of 4.1 percent for 2023.
However, in the year to January, salaries advertised on Seek grew by 4.5 per cent, demonstrating why changing jobs is a better way to deal with the cost of living crisis.
Australians who want a pay rise are much more likely to get it if they change jobs rather than lobbying their boss (file image)
Some sectors saw even bigger pay rises, with community services jobs seeing an 8.9 per cent increase, following a 15 per cent pay rise for aged care workers.
Separate data from the Australian Bureau of Statistics showed those in the health care and assistance sector received an average salary of $97,500 last year.
This was slightly below the median full-time salary of $98,218, and this broad category covers residential care doctors and nurses.
Education and training jobs advertised on Seek saw a 6.2 per cent increase, after the NSW Government increased salaries for graduate teachers to $95,490.
Then there are positions that require no experience in hospitality and tourism jobs advertised on Seek, which are seeing a 4.5 percent annual increase.
A Seek study of job ads in 2022 and 2023 found that 52 percent of them did not specify screening questions about having experience in a similar position.
Employment website Seek found that those who found a new employer were 1.6 times more likely to get a raise, based on a survey of 1,200 people in 2023 (pictured, a Sydney waitress).
The Reserve Bank’s 13 interest rate rises in 18 months have taken the cash rate to a 12-year high of 4.35 per cent.
The Treasury expects the unemployment rate to reach 4.5 percent by mid-2025 as the economy slows.
That would mean that 65,486 people would lose their jobs in a labor market of 14.8 million people.