New Zealand's annual wage inflation, as measured by the labor cost index, declined to 1.6 percent in the fourth quarter of 2020 from 1.9 percent in the prior period but above market expectations of 1.5 percent. Public sector wages advanced 2.0 percent, down from a 2.6 percent gain in the previous quarter; and private sector wages rose 1.5 percent, slowing down from 1.6 percent last quarter. On a quarterly basis, wages increased by 0.4 percent, losing steam from a 0.6 percent rise in the prior period. source: Statistics New Zealand
Labour Costs in New Zealand averaged 931.81 points from 1992 until 2020, reaching an all time high of 1218 points in the second quarter of 2020 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 April of 2021.
Labour Costs in New Zealand is expected to be 1240.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in New Zealand to stand at 1232.00 in 12 months time. In the long-term, the New Zealand Labour Costs is projected to trend around 1245.00 points in 2022 and 1255.00 points in 2023, according to our econometric models.