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. source: Statistics New Zealand
Labour Costs in New Zealand averaged 942.30 points from 1992 until 2021, reaching an all time high of 1244 points in the second 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 October of 2021.
Labour Costs in New Zealand is expected to be 1245.00 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.