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

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news