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Kiwis over 65 lead jump in income from self-employment

Kiwis over 65 lead jump in income from self-employment

Oct. 4 (BusinessDesk) – Older kiwis may be less inclined to put their feet up, based on the latest quarterly income survey, which shows a jump in income for the self-employed aged 65 and above.

The median weekly income from self-employment for those aged 65 and above increased by $19 a week, or 5.3%, to $384, according to Statistics New Zealand’s June quarter income survey. The proportion of that age-group getting income from self-employment rose to 7.5 percent from 6 percent.

For all New Zealanders surveyed, the median weekly income from all sources rose 1.8 percent to $560 and for those receiving income from wages and salaries, up 0.7 percent to $806. Median hourly earnings climbed 2.4 percent to $20.86.

The number of people receiving income from government transfers lifted 3 percent, with a 5 percent jump in the number of people aged 65+ being the main contributor to this rise.

The median weekly income from all sources for Maori was up 3.4 percent to $475, while the equivalent non-Maori increase was 2.7 percent to $575 a week.

Aucklanders had the highest median weekly income from paid employment at $863, and Wellington the second-highest at $850.

(BusinessDesk)

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