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

 

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO:

New Report: Waitākere Kauri - Look After It, Or Lose It

With no cure for kauri dieback disease and treatment options still being trialled, the Auckland region faces a very real threat – take urgent action in the Waitākere Ranges or risk losing kauri from our forests altogether. More>>

ALSO: