Annual wages and labour demand up

Tuesday 9 November 2004

Wages steadied in the September quarter, as did demand for labour, but both gained on an annual basis according to data released by Statistics New Zealand today.

By The Landlord

The Quarterly Employment Survey (QES) showed employment levels remained relatively unchanged from the previous quarter. Average hourly earnings remained steady at $20.31, following on from the 2.2 per cent increase in hourly earnings in the June quarter.

But on an annual basis the QES showed strong growth in total gross earnings, up 7.1 per cent, and total paid hours, up 3.6 per cent, which led to a 2.4 per cent annual increase in average total hourly earnings.

The Labour Cost Index (LCI) increased 0.7 per cent in the September quarter, following on from a 0.6 per cent rise in the June quarter. On an annual basis the LCI showed a 2.2 per cent increase in salary and wages. Overtime wage rates rose 3 per cent over the year.

Read More - Opens in a new window
Commenting is closed

Property News

Return to market form

There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.


NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.


LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer