New Zealand's annual wage inflation, as measured by the labor cost index, edged up to 1.9 percent in the fourth quarter of 2018 from 1.8 percent in the previous period and compared to market expectations of 2.0 percent, as private sector wage growth climbed to 2.0 percent from 1.9 percent. Meanwhile, public sector wages rose 1.7 percent in the December quarter, faster than a 1.5 percent increase in the previous three-month period. On a quarterly basis, wages increased by 0.5 percent, the same pace as in the previous two quarters. Labour Costs in New Zealand averaged 913.75 Index Points from 1992 until 2018, reaching an all time high of 1174 Index Points in the third quarter of 2018 and a record low of 700 Index Points in the fourth quarter of 1992.

New Zealand Labour Costs
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-06 09:45 PM Labour Costs Index QoQ 0.5% 0.5% 0.6% 0.8%
2018-11-06 09:45 PM Labour Costs Index YoY 1.8% 1.9% 1.9% 2.0%
2019-02-06 09:45 PM Labour Costs Index QoQ 0.5% 0.5% 0.6% 0.4%
2019-02-06 09:45 PM Labour Costs Index YoY 1.9% 1.8% 2.0% 1.8%
2019-04-30 10:45 PM Labour Costs Index QoQ 0.5%
2019-04-30 10:45 PM Labour Costs Index YoY 1.9%
2019-07-31 10:45 PM Labour Costs Index QoQ


New Zealand Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.30 4.00 11.20 3.30 percent [+]
Employed Persons 2664.00 2662.00 2664.00 1499.00 Thousand [+]
Unemployed Persons 120.00 110.00 189.00 69.00 Thousand [+]
Employment Change 0.10 1.00 2.60 -1.80 percent [+]
Labor Force Participation Rate 70.90 71.00 71.00 63.00 percent [+]
Labour Costs 1079.00 1173.00 1173.00 700.00 Index Points [+]
Productivity 122.93 167.16 171.61 117.96 Index Points [+]
Job Vacancies 198.20 193.93 200.70 55.20 Index Points [+]
Job Advertisements 44341.92 46008.12 46008.12 14139.22 [+]
Wages 31.70 31.39 31.70 13.07 NZD/Hour [+]
Wages in Manufacturing 30.00 29.92 30.00 12.44 NZD/Hour [+]
Minimum Wages 17.70 16.50 17.70 10.25 NZD/Hour [+]
Population 4.84 4.75 4.84 2.37 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Youth Unemployment Rate 14.10 10.30 15.30 10.30 percent [+]
Part Time Employment 546.00 554.00 554.00 264.00 Thousand [+]
Employment Rate 67.80 68.20 68.20 56.40 percent [+]
Full Time Employment 2113.00 2107.00 2113.00 1177.00 Thousand [+]


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. This page provides - New Zealand Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Labour Costs - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1079.00 1173.00 1173.00 700.00 1992 - 2018 Index Points Quarterly
2009Q2=1000, NSA




Country Last Previous
Australia 103.60 Dec/18
Brazil 120.65 Feb/19
Canada 107.34 Dec/18
China 104.80 Dec/18
Euro Area 116.60 Dec/18
France 108.50 Dec/18
Germany 115.62 Dec/18
Italy 108.70 Dec/18
Mexico 86.40 Jan/19
Netherlands 108.30 Dec/18
Singapore 117.00 Dec/18
South Africa 154.00 Sep/18
South Korea 109.40 Sep/18
Spain 106.00 Dec/18
Turkey 162.85 Dec/18
United Kingdom 105.60 Dec/18
United States 109.78 Dec/18


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