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Insurance salaries on the rise while job ads fall

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Insurance and superannuation advertised salaries rose 6.5% last month compared with a year earlier, but the number of jobs declined, according to data from online employment site Seek.

The salary level gains outpaced an increase of 4% in hospitality and tourism, 3.7% in banking and financial services and 3.7% in trades and services. The advertised salary for all sectors across Australia rose 1.7% to $88,746.

The average advertised salary for insurance and superannuation last month was $90,766, while a breakdown of salary distribution for the past 12 months shows 32% are in the $60,000-$79,000 range.

Seek says the pace of insurance and superannuation salary growth increased from 6.1% in December.

But the number of jobs advertised for insurance and superannuation declined 8% last month compared to a year earlier, following a 7.3% decline in December.

Seek job ads overall were down 6.5% last month, with only community services development and education and training showing significant improvements on a year earlier.