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

 

Annual Earnings Hold Strong

Embargoed until 10:45am – 6 November 2006

Annual Earnings Hold Strong

Salary and wage rates (including overtime), as measured by the Labour Cost Index (LCI), increased 3.2 percent for the year to the September 2006 quarter, Statistics New Zealand said today. Earnings growth was also strong in the Quarterly Employment Survey (QES), where average total hourly earnings rose 5.1 percent (to $22.24) in the September 2006 year.

In the LCI, salary and wage rates (including overtime) for health and community services increased 5.1 percent for the year to the September 2006 quarter, and 2.5 percent for the September 2006 quarter. These are the largest annual and quarterly increases for this industry group since the series began in the June 2001 quarter. The main reason for the quarterly increase was collective employment agreements coming into effect for nursing professionals.

Overtime wage rates increased 3.2 percent for the year to the September 2006 quarter, the largest annual increase since a 3.4 percent increase in the year to the December 2004 quarter. For the September 2006 quarter, overtime wage rates increased 1.3 percent, the largest quarterly increase since the series began in the December 1992 quarter.

QES results for the year to September 2006 show that the rate of employment growth has eased.

Employment, as measured by full-time equivalent employees (FTEs), increased 2.0 percent. This follows increases of 4.0 percent and 4.6 percent for the September 2005 and September 2004 years, respectively.

Geoff Bascand
Acting Government Statistician

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Digitl: Bumper year ahead for NZ IT sector

Gartner says New Zealand spending on technology products and services will grow 7.4 percent this year. The company’s latest forecast says the market will total NZ$15.3 billion in 2022... More>>



Fonterra: Lifts Forecast Farmgate Milk Price Range

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS. This increases the midpoint of the range, which farmers are paid off... More>>

Federated Farmers: NAIT Levy Increases Must Achieve Accurate, User-friendly System
Nobody welcomes extra costs but if OSPRI is to catch-up on under investment in the NAIT platform and deliver on its workability and farmer support, levy increases are probably necessary, Federated Farmers says... More>>



Skoltech: Study Probes Earth’s Turbulent Past To Explain Where Oceans Came From

The origin of water on our planet is a hot question: Water has immense implications for plate tectonics, climate, the origin of life on Earth, and potential habitability of other Earth-like planets. In a recent study in Physical Review Letters, a Skoltech professor and his Chinese colleagues suggest... More>>


Statistics: Household Net Worth Grows In The September 2021 Quarter But At A Slower Pace Compared To March 2021

Household net worth grew by $60.7 billion in the September 2021 quarter compared with the June 2021 quarter, Stats NZ said today. This represents an increase of 2.5 percent, a similar result to the June 2021 quarter, which was up $60.6 billion or 2.6 percent... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>