New Zealand's annual wage inflation, as measured by the labor cost index, declined to 1.9 percent in the third quarter of 2020 from 2.1 percent in the prior period and above market expectations of 1.5 percent. Public sector wages advanced 2.6 percent, down from a 3.0 percent gain in the previous quarter; and private sector wages rose 1.6 percent, slowing down from 1.7 percent last quarter. On a quarterly basis, wages increased by 0.6 percent, accelerating from a 0.2 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 January of 2021.

Labour Costs in New Zealand is expected to be 1215.00 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 1221.00 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.

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New Zealand Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
1225.00 1218.00 1225.00 699.62 1992 - 2020 points Quarterly
2009Q2=1000, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-04 10:45 PM Labour Costs Index YoY Q2 2.1% 2.5% 1.9% 2%
2020-08-04 10:45 PM Labour Costs Index QoQ Q2 0.2% 0.3% 0.3% 0.2%
2020-11-03 09:45 PM Labour Costs Index QoQ Q3 0.6% 0.2% 0.3% 0.1%
2020-11-03 09:45 PM Labour Costs Index YoY Q3 1.9% 2.1% 1.5% 1.4%
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News Stream
New Zealand Wage Inflation Slows in Q3
New Zealand's annual wage inflation, as measured by the labor cost index, declined to 1.9 percent in the third quarter of 2020 from 2.1 percent in the prior period and above market expectations of 1.5 percent. Public sector wages advanced 2.6 percent, down from a 3.0 percent gain in the previous quarter; and private sector wages rose 1.6 percent, slowing down from 1.7 percent last quarter. On a quarterly basis, wages increased by 0.6 percent, accelerating from a 0.2 percent rise in the prior period.
2020-11-03
New Zealand Labour Costs Rise More than Expected
New Zealand's annual wage inflation, as measured by the labor cost index, increased to 2.1 percent in the second quarter of 2020 from a 2.5 percent in the prior period and above market expectations of 1.9 percent. Public sector wages advanced 3.0 percent, down from a 3.2 percent gain in the previous quarter; and private sector wages rose 1.7 percent, slowing down from 2.4 percent last quarter. On a quarterly basis, wages increased by 0.2 percent, easing from a 0.3 percent rise in the prior period.
2020-08-04
New Zealand Labour Costs Match Expectations
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.
2020-05-05
New Zealand Labour Costs Rise More than Expected
New Zealand's annual wage inflation, as measured by the labor cost index, increased to 2.6 percent in the fourth quarter of 2019 from 2.4 percent in the prior period and beating market expectations of 2.4 percent. Public sector wages advanced 3.3 percent, faster than a 3 percent gain in the previous quarter; and private sector wages rose 2.4 percent, up from 2.3 percent. On a quarterly basis, wages increased by 0.7 percent, easing from a 0.8 percent rise in the prior period.
2020-02-04

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.