New Zealand's annual wage inflation, as measured by the labor cost index, rose by 3 percent in the first quarter of 2022, accelerating from a downwardly revised 2.6 percent increase in the prior period. Public sector wages advanced 2.7 percent, up from a 2.3 percent gain in the previous quarter while private-sector wages rose 3.1 percent, quickening from 2.8 percent. On a quarterly basis, wages increased 0.8 percent, following a downwardly revised 0.6 percent rise in the prior period. source: Statistics New Zealand
Labour Costs in New Zealand averaged 950.40 points from 1992 until 2022, reaching an all time high of 1271 points in the first quarter of 2022 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 June of 2022.
Labour Costs in New Zealand is expected to be 1260.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Labour Costs is projected to trend around 1295.00 points in 2023, according to our econometric models.