2 Nov 2010

Wages up slightly for quarter

6:27 pm on 2 November 2010

Wage rates rose slightly in the three months to the end of September.

Statistics New Zealand says ordinary-time wages rose 0.5%, the third consecutive quarterly rise, and the biggest quarterly movement in a year.

Wages in the private sector rose at a faster rate, posting an increase of 0.6% - the biggest quarterly movement in nearly two years.

Public sector wages rose 0.3% in the September quarter, up from 0.2% in the previous quarter.

The number of hours worked rose 0.2%.

On an annual basis, private sector wages rose 1.6%.

Separately, the Quarterly Employment Survey reported filled jobs fell compared with the previous quarter, though paid hours rose.

ANZ New Zealand senior economist Sharon Zollner says it appears companies are prepared to pay more, but still remain cautious about taking on extra staff.

The official measure of unemployment, the Household Labour Force Survey, will be released on Thursday. It stands at 6.8%.