New Zealanders’ income growth for wage earners remains strong

Wellington, Aug 15 (SocialNews.XYZ) New Zealanders' median weekly and hourly earnings from wages and salaries increased by 7.1 and 6.6 percent respectively, in the year to the June 2023 quarter, the statistics department said on Tuesday.

Statz NZ said that median weekly earnings from wages and salaries grew by 7.1 per cent, or NZ$84 ($50) over the year, to reach NZ$1,273, reports Xinhua news agency.

This was the second-largest annual rise since the series began in 1998, surpassed only by the previous year's annual increase, the statistics department added.

Median weekly earnings continued to grow strongly over the year, especially for women, whose earnings rose 8.1 per cent annually, following record growth in the previous year, Stats NZ's labor market manager Malak Shafik said.

In the year to the June 2023 quarter, median hourly earnings from wages and salaries were up 6.6 per cent to reach NZ$31.61.

This was the second-largest annual percentage increase in median hourly earnings since 1998, following the largest increase in the previous year, Shafik said.

Median hourly earnings for women were up 7.7 per cent over the year, to reach NZ$30.15, which was the largest annual increase in the series.

Men's median hourly earnings were up 7 per cent to reach NZ$33, the second-largest annual increase in the series, he said.

This puts the gender pay gap for the June 2023 quarter at 8.6 per cent, which is based on median hourly earnings, statistics show.

The New Zealand government continues to close the gender pay gap by further promoting pay transparency.

Around 900 entities nationwide with more than 250 employees will be required to publicly report their gender pay gap, and after four years, this will increase to almost 2,700 entities with more than 100 workers, Minister for Women Jan Tinetti said last week.

Source: IANS