In comparative terms, I trace the wage premium of New Zealand over Britain to the early 1850s. "On the basis of today's figures the hurdle to an OCR hike is high, but if wage inflation remains low, the OCR could move lower." In New Zealand, wages are benchmarked using average hourly earnings. StatsNZ noted that earlier employment figures had been subject to revision survey questions were enhanced to improve accuracy. That meant the September quarter figure was revised to four per cent from 3.9 per cent. "On the go and no time to finish that story right now? Wages in New Zealand increased to 33.37 NZD/Hour in the second quarter of 2020 from 33.20 NZD/Hour in the first quarter of 2020. From breaking news to debate and conversation, we bring you the news as it happens Whether you’re looking to buy or rent, OneRoof.co.nz has everything you need to find your dream home. Wages in New Zealand averaged 21.73 NZD/Hour from 1989 until 2020, reaching an all time high of 33.37 NZD/Hour in the second quarter of 2020 and a record low of 13.07 NZD/Hour in the first quarter of 1989. Unemployment rose to 4.3 per cent in the December quarter up from four per cent in the previous quarter, the latest Labour market data from Stats NZ shows. The Trading Economics Application Programming Interface (API) provides direct access to our data. Your News is the place for you to save content to read later from any device. "In the December quarter, the nurses' pay settlement, which came into effect in August 2018, affected LCI and Quarterly Employment survey public sector wage and earnings measures," Attewell said. The labour cost index (LCI) all salary and wage rates (including overtime) increased 2.6 percent in the year to the December 2019 quarter. Our expectation is that wage pressures will firm over the course of the year, but with little corroborating evidence having emerged and with firms under increasing margin pressures, there is risk around this. The LCI salary and wage rates (including overtime) increased 2.0 percent in the year to the March 2019 quarter, while the unadjusted LCI increased 3.4 percent. "The government raised the minimum wage from $17.70 to $18.90 an hour on 1 …
COMMENT: The need to understand the Government's calculus is looming larger by the day.International traffic trickled to a near halt but planes that did fly were worth the wait.One of New Zealand's most vulnerable businesses prepares to do battle again. Today's figures suggested that the labour market was not as tight as suggested by the 2018 third quarter report, Tuffley said. "Which weakens the case for an OCR hike. Over the nine-year period, Jun-2010 to Jun-2019, the public sector wage growth had in most quarters tracked below the private sector. The rise in unemployment was largely influenced by more unemployed men (up 8,000). "Wage growth, however, is failing to fire," said ASB chief economist Nick Tuffley. "The unemployment rate for men rose to 4.4 per cent in the December quarter, while it was 4.2 per cent for women. "Without the adjustment this quarter, the unemployment rate would have been 4.4 percent rather than 4.3 percent," Attewell said. Economists surveyed by Bloomberg had tipped the unemployment rate to rise to 4.1 per cent. After growing at more than two percent per annum to 1882, the growth rate of real wages slowed to less than two thirds of a percent from 1883. The labour cost index (LCI) salary and wage rates (including overtime) rose 0.2 percent in the June 2020 quarter, the lowest quarterly increase since December 1994, Stats NZ said today. The LCI salary and wage rates measures movements in wages for a fixed quantity and quality of labour. New Zealand's annual wage inflation, as measured by the labor cost index, increased to 2.1 percent in the second quarter of 2020 from a 2.5 percent in the prior period and above market expectations of 1.9 percent. Public sector wages advanced 3.0 percent, down from a 3.2 percent gain in the previous quarter; and private sector wages rose 1.7 percent, slowing down from 2.4 percent last quarter. This was the first time since June 2010 that this rate was lower for women than men," labour market and household statistics senior manager, Jason Attewell said.
"Wage growth, however, is failing to fire," said ASB chief economist Nick Tuffley. For men and women combined, there were 12,000 more unemployed youth (15–24-year-olds). It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Register with us and content you save will appear here so you can access them to read later. the progress of New Zealand internally, and relative to the rest of the world. Current prices, NSA Download historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data.


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