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Average time hourly earnings continue to grow above 4%: Stats NZ

Stats NZ data today shows average weekly ordinary time earnings are up by $83 since the Government took office.

Average time hourly earnings continue to grow above 4%: Stats NZ
By another measure – the Labour Cost Index – Stats NZ said wages were rising at their fastest rate in over a decade. Image Credit: Flickr

Working New Zealanders are getting more in their back pockets under the Coalition Government's economic plan.

Stats NZ data today shows average weekly ordinary time earnings are up by $83 since the Government took office.

This shows that working New Zealanders are getting higher take-home pay and that employers are investing in their workers.

Stats NZ today said that average ordinary time hourly earnings continued to grow above 4% over the past year. Growth of 4.2% was near the decade-high seen last quarter.

By another measure – the Labour Cost IndexStats NZ said wages were rising at their fastest rate in over a decade.

"Data showed the unemployment rate continues to remain low. September's reading of 4.2% is the third-lowest in a decade. While it's up slightly from the 11-year low of 3.9% last quarter, it's below the 4.7% rate that we inherited," Willie Jackson said.

"This is a strong result given the global headwinds that the economy is facing, like the US-China trade war and uncertainty caused by Brexit. The low unemployment, low-interest rates, and low Government debt mean we are well-placed to counter the global uncertainty.

Within the statistics, there remain pleasing outcomes that show there are now more Māori and Pacific people in employment than this time last year.

"I am pleased that we continue to see improved outcomes for Māori and Pasifika. As I've said in the past, these figures represent real people, which makes a significant difference to communities and regions across the country," Willie Jackson said.

(With Inputs from New Zealand Government Press Release)



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