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

 

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Science Media Centre: Viral Science And Another 'Big Dry'?

"Potentially, if there is no significant rainfall for the next month or so, we could be heading into one of the worst nation-wide droughts we’ve seen for some time," warns NIWA principal climate scientist Dr Andrew Tait. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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