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

 


Wages need a boost

CTU Media Release

5 February 2013

Wages need a boost

"The fall in the average wage from $25.27 to $25.25 along with the continued slow wage increases measured by today's release of the Labour Cost Index (LCI) show current wage increases are simply not going to do what is necessary to raise living standards for New Zealand families", says CTU Economist, Bill Rosenberg.

"The fall in the average wage was due to a fall in private sector pay where the average wage fell from $25.26 to $25.17. However there is a mixed picture with the LCI showing private sector increases continuing to outstrip the public sector."

"For those who did get an increase in the last year, the median increase was 3.0 percent and the average was 3.7 percent. However, the proportion of workers getting no increase at all has now risen to 45 percent."

Bill Rosenberg said "wages and salaries make up almost three-quarters of household income. They are the way the great majority of New Zealanders get to share the income this country generates. But for many families, their wages are inadequate to provide even a modest standard of living."

"Last week, migration figures for the 2012 year showed the highest loss of people to Australia since Statistics New Zealand began recording this in 1979. More people left New Zealand permanently to all destinations than any previous year in New Zealand's history."

"Wages and salaries are not the only reason for this, but they are a big one," says Rosenberg.

"There needs to be a focus on wages, with a significant increase in the minimum wage, stronger legislative support for collective bargaining, and widespread adoption of a Living Wage as essential ingredients," Rosenberg said.

Rosenberg also noted that the gender pay gap, measured by the difference between the male and female average wage, was again well over 13 percent - at 13.4 percent, a fall from last quarter's 13.9 percent but still notably higher than the 12.3-12.9 percent range of the last two years.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news