New Zealand's annual wage inflation, as measured by the labour cost index, remained unchanged at 1.6 percent in the first quarter of 2021 compared to the previous period. Public sector wages advanced 1.8 percent, slowing from a 2.0 percent gain in the prior quarter, and private sector wages rose 1.6 percent, accelerating from a 1.5 percent rise last quarter. On a quarterly basis, wages increased 0.4 percent, the same as in the previous quarter. source: Statistics New Zealand
Labour Costs in New Zealand averaged 939.66 points from 1992 until 2021, reaching an all time high of 1235 points in the first quarter of 2021 and a record low of 699.62 points in the fourth quarter of 1992. This page provides - New Zealand Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Labour Costs - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Labour Costs in New Zealand is expected to be 1240.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in New Zealand to stand at 1255.00 in 12 months time. In the long-term, the New Zealand Labour Costs is projected to trend around 1275.00 points in 2022 and 1295.00 points in 2023, according to our econometric models.