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

 


Annual wage rates grow 1.8 percent


Annual wage rates grow 1.8 percent – Media release

Labour cost index (LCI) salary and wage rates, which include overtime, increased 1.8 percent in the year to the December 2012 quarter, Statistics New Zealand said today. This includes a 0.5 percent rise in the December 2012 quarter.

Salary and ordinary time wage rates in the private sector increased 1.9 percent in the year to the December 2012 quarter. Public sector salary and ordinary time wage rates rose 1.5 percent, up from 1.4 percent in the year to the September 2012 quarter. The latest annual wage rate growth in the public sector resulted from increases in the central government sector (up 1.4 percent) and local government (up 1.9 percent).

The mean increase for all surveyed salary and wage rates that rose in the December 2012 quarter was 3.0 percent, compared with 3.1 percent in the September 2012 quarter. The latest mean increase is the lowest since a 3.0 percent increase in the September 2000 quarter. Of all pay rates surveyed, 55 percent showed annual increases in the year to the December 2012 quarter.

Results from the Quarterly Employment Survey (QES), also released today, showed that average hourly earnings for ordinary time (ie excluding overtime) rose 2.6 percent in the year to the December 2012 quarter. This followed a rise of 2.8 percent in the year to the September 2012 quarter.

The QES results also showed that demand for labour and paid hours rose for the December 2012 quarter after adjusting for seasonal fluctuations. The number of filled jobs rose 0.4 percent from the previous quarter. Full-time jobs rose by 0.7 percent while part-time jobs fell 0.6 percent. The overall result of these movements was a 0.4 percent rise in full-time equivalent jobs (FTEs). Seasonally adjusted total paid hours rose 0.6 percent over the same period.

The LCI tracks nearly 6,000 jobs and reflects changes in the rates that employers pay to have the same job done to the same standard. Rises to match the market, retain staff, or reflect the cost of living are shown in the LCI, while rises reflecting individual performance or years of service are filtered out.

The QES surveys approximately 18,000 business locations and reflects New Zealand employers' demand for paid labour. From the survey responses, we estimate the levels and changes in employment, gross earnings, and paid hours in the industries we survey. These estimates are then used to calculate average earnings and paid hours statistics.

ENDS


For more information about these statistics:
• Visit Labour Cost Index (Salary and Wage Rates): December 2012 quarter and Quarterly Employment Survey: December 2012 quarter

• Open the attached files

http://img.scoop.co.nz/media/pdfs/1302/LabourCostIndexSalaryandWageRatesDec12qtr.pdf
http://img.scoop.co.nz/media/pdfs/1302/lciswrDec12tables.xls
http://img.scoop.co.nz/media/pdfs/1302/QuarterlyEmploymentSurveyDec12qtr.pdf

http://img.scoop.co.nz/media/pdfs/1302/qesdec12tables.xls





© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Crown Accounts: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Almost 400 Jobs: Shock At Cadbury's Dunedin Factory Closure

Workers at Cadbury in Dunedin are reeling after learning this morning that the iconic Cadbury factory is to close, with the loss of almost 400 jobs... “The company had reported it was doing well and this has come out of the blue,” says Chas. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news