Wages steadied in the September quarter, as did demand for labour, but both gained on an annual basis according to data released by Statistics New Zealand today.
Tuesday, November 9th 2004, 7:16AM
by The Landlord
The Quarterly Employment Survey (QES) showed employment levels remained relatively unchanged from the previous quarter. Average hourly earnings remained steady at $20.31, following on from the 2.2 per cent increase in hourly earnings in the June quarter.
But on an annual basis the QES showed strong growth in total gross earnings, up 7.1 per cent, and total paid hours, up 3.6 per cent, which led to a 2.4 per cent annual increase in average total hourly earnings.
The Labour Cost Index (LCI) increased 0.7 per cent in the September quarter, following on from a 0.6 per cent rise in the June quarter. On an annual basis the LCI showed a 2.2 per cent increase in salary and wages. Overtime wage rates rose 3 per cent over the year.
