Tightening labour market fails to spur higher wages

Wed, 02 Nov 2016

By Paul McBeth Nov. 2 (BusinessDesk) - A tighter New Zealand labour market hasn't managed to spur higher wages, even as jobs growth outstrips an expanding population and as firms find it increasingly difficult to find new staff. The private sector component of the labour cost index, which measures wage inflation, rose 0.4 percent in the three months ended Sept. 30, and was up 1.6 percent from a year earlier, Statistics New Zealand said. That was in line with expectations and unchanged from the previous period, even though the unemploymen...

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