Key Indicators and Market Movements – December 2021

Each month our team pull together some of the key economic indicators along with insights from our local government salaries and benefits database to assist practitioners with your forward planning.  The observations and charts below reflect the latest data available as at the end of December 2021.

• This analysis only included Band/Levels that have SIM data from 3 or more councils
• The average same incumbent movement on Base Salary varies from 2.41% to 3.24% with an overall average of 2.70%.
• Band Level 3/3 roles showed the highest average increase while Band 1/Level 4 and Band 2/Level 1 roles were the lowest
• The overall average same incumbent movement was 3.88% when considering Total Fixed Remuneration and 4.06% for Total Remuneration
• The median same incumbent movements were 1.50% (Base), 2.38% (TFR) and 2.43% (TR)

• This analysis only included the job families that have SIM data from 5 or more councils
• The average same incumbent movement on Base Salary varies from 2.24% to 3.53% with an overall average of 2.70%.
• Human Resources roles showed the highest movement, while roles in the Records job family were the lowest
• The average same incumbent movement at a survey job level varied from 1.72% to 4.97% with HR Advisor/Partner/Consultant moving fastest
• The overall average same incumbent movement was 3.88% on Total Fixed Remuneration and 4.06% on Total Remuneration
• The median same incumbent movements were 1.50% (Base), 2.38% (TFR) and 2.43% (TR)

Consumer Price Index:

• In September 2021 quarter the Consumer Price Index (CPI) rose 0.8%.
• The most significant price rises were for new dwelling purchases by owner-occupiers (+3.3%) and automotive fuel (+7.1%)
• Over the twelve months to the September 2021 quarter, the CPI rose 3.0%.

Unemployment Rates:

• In November 2021 the unemployment rate decreased by 0.6 pts to 4.6%
• Unemployed people decreased by 69,400 to 636,700
• The youth unemployment rate decreased by 2.2 pts to 10.9%

Wages Growth:

• Over the twelve months to the September 2021 quarter the wage rose 2.2%
• Private sector wages rose by 2.4%
• Public sector wages rose by 1.7%, the first increase in the rate after slowing in each quarter since March quarter 2020