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

 

Labour market continues to improve

Labour market continues to improve

6 August 2014

More people are working and unemployment has fallen to 5.6 percent according to the latest figures from Statistics New Zealand.

“We continue to see more people move into employment and although the participation rate has dropped from a peak last quarter, it is still at an historically high level,” labour market and households statistics manager Diane Ramsay said. "The unemployment rate fell from a revised 5.9 percent to 5.6 percent and is the lowest it has been since the March 2009 quarter."

Annually, the number of people employed rose 3.7 percent in the Household Labour Force Survey (HLFS). Employment growth in Canterbury accounted for almost half of the total national employment growth over the year. In the Quarterly Employment Survey (QES), demand for workers from established businesses rose 2.3 percent.

Annual wage inflation, as measured by the labour cost index (LCI) salary and wage rates (including overtime), increased 1.7 percent compared with annual consumer price inflation of 1.6 percent. Average ordinary time hourly earnings (QES) rose 2.5 percent over the year.

“Annual wage inflation edged up and this was driven by private sector annual wage rate growth of 1.8 percent – influenced by the minimum wage increasing 3.6 percent. Public sector annual wage rate growth was unchanged at 1.2 percent,” Ms Ramsay said. In the June 2014 quarter:

Our labour market indicators include the HLFS, QES, and LCI. The HLFS is a broad measure of labour market activity by individuals, while the QES measures demand by established firms for paid work and hourly earnings. The LCI is a measure of wage inflation.

Results from all three surveys are based on representative samples from across New Zealand. Explaining labour market statistics has more information on these indicators.

For more information about these statistics:
• Visit Household Labour Force Survey: June 2014 quarter
• Visit Quarterly Employment Survey: June 2014 quarter

ENDS

[update]

Household Labour Force Survey: June 2014 quarter correction

On 6 August 2014 we corrected the figure in the Key facts section for the working age population. The figure was wrongly reported at 3,559, 000. This has now been corrected to 3,579,000.
We apologise for any inconvenience caused.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fletcher Whittled: Fletcher Dumps Adamson In Face Of Dissatisfaction

Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, as the company slashed its full-year earnings guidance and flagged an impairment against Australian assets. More>>

ALSO:

No More Dog Docking: New Animal Welfare Regulations Progressed

“These 46 regulations include stock transport, farm husbandry, companion and working animals, pigs, layer hens and the way animals are accounted for in research, testing and teaching.” More>>

ALSO:

Employment: Most Kiwifruit Contractors Breaking Law

A Labour Inspectorate operation targeting the kiwifruit industry in Bay of Plenty has found the majority of labour hire contractors are breaching their obligations as employers. More>>

ALSO:

'Work Experience': Welfare Group Opposes The Warehouse Workfare

“This programme is about exploiting unemployed youth, not teaching them skills. The government are subsidising the Warehouse in the name of reducing benefit dependency,” says Vanessa Cole, spokesperson for Auckland Action Against Poverty. More>>

ALSO:

Internet Taxes: Labour To Target $600M In Unpaid Taxes From Multinationals

The Labour Party would target multinationals operating in New Zealand to ensure they don't avoid paying tax if it wins power and is targeting $600 million over three years through a "diverted profits tax," says leader Andrew Little. More>>

ALSO: