Labour Market Reports - Archive
WAGE GROWTH At a Glance
This section contains archived information that has been retained for reference purposes. To view current reports, please go to the Labour Market Information section.
Published: 14 May 2007
Description
This report examines the wage growth measures for the March 2007 quarter from the Labour Cost Index and Quarterly Employment Survey, which were released by Statistics New Zealand on 7 May. This report is produced quarterly.
Link to full report
Wage Growth HTML | PDF [58 KB, 5 pages]
Summary
Latest figures show wage growth weakened slightly but remained high in the March 2007 quarter.
Although some of the main wage growth measures have eased, the easing was small and other wage indicators stayed high.
Wage growth in real terms was high suggesting there has been a strong increase in the purchasing power of workers’ earnings.
Key results from the Labour Cost Index and Quarterly Employment Survey are shown in the table below.
| Wage Growth | Last year | Last quarter | This quarter |
|---|---|---|---|
| (annual % change) | March 2006 | Dec 2006 | Mar 2007 |
| Adjusted LCI | 3.2 | 3.2 | 3.1 |
| Unadjusted LCI | 5.7 | 4.9 | 4.5 |
| QES | 5.3 | 5.0 | 4.6 |
Looking Forward
Wage growth is likely to remain high over the coming year due to very low unemployment, the current momentum in the economy and a strong rebound in skill shortage indicators over the last two quarters.
Related information
Labour Cost Index data from Statistics New Zealand [external link]
Quarterly Employment Survey data from Statistics New Zealand [external link]
Future updates
This is a regular report – the next update is due in August 2007. Reports from previous periods can be found in archive
Author or contact details
For further information please contact the Labour Market Analysis team