New Zealand's annual wage inflation, as measured by the labor cost index, rose by 2.4 percent in the third quarter of 2021, accelerating from a 2.1 percent increase in the prior period. Public sector wages advanced 2.0 percent, up from a 1.9 percent gain in the previous quarter while private-sector wages rose 2.5 percent, quickening from 2.2 percent last quarter. On a quarterly basis, wages increased 0.8 percent, following a 0.7 percent rise in the prior period. source: Statistics New Zealand

Labour Costs in New Zealand averaged 944.99 points from 1992 until 2021, reaching an all time high of 1254 points in the third 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 January of 2022.

Labour Costs in New Zealand is expected to be 1250.00 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 1275.00 points in 2022 and 1295.00 points in 2023, according to our econometric models.

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New Zealand Labour Costs


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.
Actual Previous Highest Lowest Dates Unit Frequency
1254.00 1244.00 1254.00 699.62 1992 - 2021 points Quarterly
2009Q2=1000, NSA

Calendar GMT Actual Previous Consensus TEForecast
2021-11-02 09:45 PM Labour Costs Index QoQ Q3 0.8% 0.7% 0.5%
2021-11-02 09:45 PM Labour Costs Index YoY Q3 2.4% 2.1% 2.5%


Related Last Previous Unit Reference
Unemployment Rate 3.40 4.00 percent Sep/21
Unemployed Persons 98.00 117.00 Thousand Sep/21
Employed Persons 2830.00 2775.00 Thousand Sep/21
Employment Change 2.00 1.00 percent Sep/21
Labor Force Participation Rate 71.20 70.50 percent Sep/21
Productivity 123.59 132.01 points Sep/21
Labour Costs 1254.00 1244.00 points Sep/21
Wages 35.30 34.80 NZD/Hour Sep/21
Wages in Manufacturing 33.08 32.58 NZD/Hour Sep/21
Population 5.11 4.95 Million Dec/20
Youth Unemployment Rate 10.01 10.92 percent Sep/21
Part Time Employment 561.00 564.00 Thousand Sep/21
Full Time Employment 2267.00 2216.00 Thousand Sep/21
Employment Rate 68.80 67.60 percent Sep/21


News Stream
New Zealand Labour Costs Continue to Rise
New Zealand's annual wage inflation, as measured by the labor cost index, rose by 2.4 percent in the third quarter of 2021, accelerating from a 2.1 percent increase in the prior period. Public sector wages advanced 2.0 percent, up from a 1.9 percent gain in the previous quarter while private-sector wages rose 2.5 percent, quickening from 2.2 percent last quarter. On a quarterly basis, wages increased 0.8 percent, following a 0.7 percent rise in the prior period.
2021-11-02
New Zealand Labour Costs Rise Further
New Zealand's annual wage inflation, as measured by the labor cost index, rose by 2.1 percent in the second quarter of 2021, accelerating from a 1.6 percent increase in the prior period. Public sector wages advanced 1.9 percent, up from a 1.8 percent gain in the previous quarter while private sector wages rose 2.2 percent, quickening from 1.6 percent last quarter. On a quarterly basis, wages increased 0.7 percent, following a 0.4 percent rise in the prior period.
2021-08-03
New Zealand Wage Inflation Steady at 1.6%
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.
2021-05-04