Wage growth pips price rises in June quarter

RBNZ governor Adrian Orr will have some tough decisions to make. (Image: NZME)

Tue, 15 Aug 2023

Wages grew at a faster annual pace than rising consumer prices in the June quarter, although Seek job ads in July point to a coming winter chill in the labour market. Government figures showed the median hourly earnings rose 6.6% to $31.61 in the June quarter from a year earlier, adding almost $80 to a full-timer’s weekly pay and outpacing the 6% pace of consumer price inflation over the same period. On a weekly basis, wages rose 7.1% to $1,273 – equivalent to $66,196 – in the second biggest annual increase since Sta...

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