New Zealand's annual wage inflation, as measured by the labor cost index, increased to 2.4 percent in the third quarter of 2019 from 2.1 percent in the prior period. Public sector wages advanced 3.0 percent, the highest rate since the second quarter of 2009, and following a 2.2 percent gain in the previous quarter. Meanwhile, private sector wages rose 2.3 percent, up from 2.2 percent in the previous quarter. On a quarterly basis, wages increased by 0.8 percent, up from a 0.7 percent rise in the previous period. Labour Costs in New Zealand averaged 923.95 Index Points from 1992 until 2019, reaching an all time high of 1202 Index Points in the third quarter of 2019 and a record low of 699.62 Index Points in the fourth quarter of 1992. source: Statistics New Zealand

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New Zealand Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
1202.00 1193.00 1202.00 699.62 1992 - 2019 points Quarterly
2009Q2=1000, NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-08-05 10:45 PM Labour Costs Index YoY Q2 2.1% 2.0% 2.1% 2.1%
2019-08-05 10:45 PM Labour Costs Index QoQ Q2 0.7% 0.4% 0.7% 0.5%
2019-11-05 09:45 PM Labour Costs Index QoQ Q3 0.8% 0.7% 0.6% 0.5%
2019-11-05 09:45 PM Labour Costs Index YoY Q3 2.4% 2.1% 2.3% 2.2%


News Stream
2019-08-05
New Zealand Labour Costs Rise Further
New Zealand's annual wage inflation, as measured by the labor cost index, increased to 2.1 percent in the second quarter of 2019 from 2.0 percent in the prior period. Public sector wages advanced 2.2 percent, higher than a 1.9 percent gain in the previous quarter; and private sector wages rose 2.2 percent, up from 2.0 percent in the previous quarter. On a quarterly basis, wages increased by 0.7 percent, up from a 0.4 percent rise in the previous period.

2019-04-30
New Zealand Labour Costs Rise Further
New Zealand's annual wage inflation, as measured by the labor cost index, edged up to 2.0 percent in the first quarter of 2019 from 1.9 percent in the previous period and compared to market expectations of 2.1 percent, as private sector wage growth remained at 2.0 percent and public sector wages rose 1.9 percent, faster than a 1.7 percent increase in the previous three-month period. On a quarterly basis, wages increased by 0.4 percent, below the 0.5 percent growth pace for the previous two quarters.

2019-02-06
New Zealand Labour Costs Rise More than Expected
New Zealand's annual wage inflation, as measured by the labor cost index, edged up to 1.9 percent in the fourth quarter of 2018 from 1.8 percent in the previous period and compared to market expectations of 2.0 percent, as private sector wage growth climbed to 2.0 percent from 1.9 percent. Meanwhile, public sector wages rose 1.7 percent in the December quarter, faster than a 1.5 percent increase in the previous three-month period. On a quarterly basis, wages increased by 0.5 percent, the same pace as in the previous two quarters.


New Zealand Labour Costs
Labour cost index measures changes in labour costs. These costs include base salary and ordinary-time wage rates, overtime wage rates, and non-wage labour-related costs including annual leave and statutory holidays, superannuation, ACC employer premiums, medical insurance, motor vehicles available for private use and low-interest loans.

New Zealand Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.20 3.90 11.20 3.30 percent [+]
Employed Persons 2641.00 2635.00 2641.00 1499.00 Thousand [+]
Unemployed Persons 115.00 108.00 189.00 69.00 Thousand [+]
Employment Change 0.20 0.80 2.50 -1.80 percent [+]
Labor Force Participation Rate 70.40 70.30 70.90 63.00 percent [+]
Labour Costs 1202.00 1193.00 1202.00 699.62 points [+]
Productivity 128.24 126.60 128.24 86.54 points [+]
Job Vacancies 193.10 192.54 196.57 55.20 points [+]
Wages 32.71 32.42 32.71 13.07 NZD/Hour [+]
Wages in Manufacturing 31.02 30.68 31.02 12.44 NZD/Hour [+]
Minimum Wages 17.70 16.50 17.70 10.25 NZD/Hour [+]
Population 4.93 4.84 4.93 2.37 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Youth Unemployment Rate 10.60 10.30 15.30 10.30 percent [+]
Part Time Employment 520.00 537.00 555.00 264.00 Thousand [+]
Employment Rate 67.50 67.50 68.00 56.40 percent [+]
Full Time Employment 2120.00 2147.00 2147.00 1177.00 Thousand [+]