News & Opinions Home
Market Place
NZPA
Fewer jobs but wages up
Tuesday November 3, 06:46 PM
There are fewer jobs about but workers' hourly wage rates are rising, despite the recession, according to the Council of Trade Union (CTU) labour cost index.
Average total hourly earnings, including overtime, increased 4.9 percent for all employees for the year to 2009. In the private sector it increased 4.2 percent and 5.8 percent in the public sector, the index reported today.
Average ordinary time hourly earnings increased 5.1 percent for all workers. That comprised 4.4 percent in the private sector and 5.9 percent in the public sector.
Average ordinary time earnings are now $25.42 per hour -- $32.07 in the public sector and $23.55 in the private sector.
The rises happened while the number of full-time equivalent employees decreased 3.5 percent for the year to September 2009, and the number of filled jobs fell 2.6 percent, said CTU economist and policy director Bill Rosenberg.
Seasonally adjusted total paid hours decreased by 3 percent. Part-time employment increased 0.2 percent in the quarter though it decreased 1.5 percent in the year.
"However there is the hint of the end of the fall in hours worked with seasonally adjusted total paid hours increasing 0.2 percent in the September 2009 quarter, compared to their decrease of 3.0 percent in the September 2009 year."
While the index showed an annual increase of only 2.1 percent in the year to the September 2009 quarter for salary and ordinary time wages (the lowest recorded in the series since December 2002) this was nevertheless still higher than the rate of inflation (1.7 percent), Mr Rosenberg said.
Source:
- Westpac Banking Corporation (NZX: WBC.nz)
- Contact Energy Limited (NZX: CEN.nz)
- Fisher & Paykel Healthcare Corporation Limited (NZX: FPH.nz)
- Michael Hill International Limited (NZX: MHI.nz)
- Port of Tauranga Limited (NZX: POT.nz)
- Tourism Holdings Limited (NZX: THL.nz)
- Tower Limited (NZX: TWR.nz)
- Fletcher Building Limited (NZX: FBU.nz)
- Infratil Limited (NZX: IFT.nz)
- Westpac Banking Corporation (NZX: WBC.nz)
Next Article: Solid Energy hit by industrial action
Previous article: Survey questions productivity gains from fast broadband
Top Headlines
Australia shares gain 0.2 percent; miners up
Wednesday November 4, 01:19 PM - Reuters New Zealand
WELLINGTON, Nov 4 (Reuters) - Australian shares pared early gains to be 0.2 percent firmer on Wednesday, with miners lifted .. Read More
NZ dollar steady ahead of Fed meeting
Wednesday November 4, 01:08 PM - Reuters New Zealand
* Kiwi settles around $0.7222/28, hovering in tight ranges between $0.7206 and $0.7226. .. Read More
Australia shares rise 0.5 percent; Westpac up
Wednesday November 4, 12:19 PM - Reuters New Zealand
WELLINGTON, Nov 4 (Reuters) - Australian shares rose 0.5 percent in early trade on Wednesday, as miners rose on firmer metal .. Read More
Calculators
Copyright © 2009 Yahoo! All rights reserved.
Yahoo!Xtra: A Yahoo!7/Telecom New Zealand Company.