Older workers in the labour force contribute to higher pay
Older workers in the labour force contribute to higher pay – Media release
4 October 2013
Median weekly wage and salary income increased between the June 2012 and June 2013 quarters, Statistics New Zealand said today. New Zealand Income Survey (NZIS) results showed this measure of income, for wage and salary earners, increased 4.8 percent to $844.
“More older workers and fewer younger workers in the workforce influenced this increase. Younger people tend to work fewer hours and earn less than older people,” standard of living acting manager Ian McGregor said.
The changing age structure of the workforce contributed to increases in both average weekly hours worked, and median hourly earnings from wages and salaries. Hours worked increased by 23 minutes to 36 hours and 18 minutes, and median hourly earnings increased by 72 cents to $21.58 between the June 2012 and June 2013 quarters.
Median weekly income for all people from all sources was up 2.7 percent, to $575, between the June 2012 and June 2013 quarters, although this increase was not statistically significant.
The NZIS, which started in 1997, is an annual survey run during the June quarter (April to June). It provides a snapshot of before-tax income statistics about people and households.
For more information on the NZIS and other income measures Statistics NZ provides, see User guide for Statistics New Zealand's wage and income measures.