New Zealand's annual wage inflation, as measured by the labor cost index edged up to 2.5 percent in the first quarter of 2020 from a downwardly revised 2.4 percent in the prior period, and matching market expectations. Public sector wages advanced 3.2 percent (vs 3.3 percent in Q4) and private sector wages increased 2.4 percent (the same as in Q4). On a quarterly basis, wages increased 0.3 percent, easing from a 0.6 percent rise in the prior period.
Labour Costs in New Zealand averaged 923.95 Index Points from 1992 until 2019, reaching an all time high of 1202 Index Points in the third quarter of 2019 and a record low of 699.62 Index 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 June of 2020. source: Statistics New Zealand
Labour Costs in New Zealand is expected to be 1189.78 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 1200.41 in 12 months time. In the long-term, the New Zealand Labour Costs is projected to trend around 1221.02 points in 2021 and 1241.04 points in 2022, according to our econometric models.