Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Wages movements catching up, must be maintained


08 February 2006

Wages movements catching up, and must be maintained in a slowing economy says CTU

The Council of Trade Unions will continue its campaign for wage increases, to ensure that all workers receive a fair share this year.

"Wages movements have taken some time to catch up after 5 years of strong economic growth, and it is important that we continue to maintain real wages growth wherever possible during a dip in the economy," said Ross Wilson, Council of Trade Unions President.

The latest Labour Cost Index, released today, showed an overall increase in ordinary salary and wage rates of 0.8 per cent in the last quarter and 3.1 per cent in the year to December.

"For those that actually received an increase however, the average increase in the last quarter was 4.7 per cent," said Ross Wilson.

"Wages must continue to rise as we move the economy from one with low wages, and low capital investment to a high wage, high skill economy with increasing levels of productivity."

"Hopefully firms have used the excellent profits they have enjoyed over the last five years to reduce debt and invest in technology and skills, and this will leave them well placed to invest in wages in the coming period," said Ross Wilson.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news