The quarterly Labour Market Statistics for the June 2016 quarter were released yesterday by Statistics New Zealand..
Under key facts, labour market at a glance.
- Unemployment down to 5.1 percent in the June 2016 quarter.
- Large increase in employment but partly reflects improvements to the HLFS, including better identification of self-employed people.
- Wage inflation remains subdued.
In short unemployment is down, the number of people in employment is up, and wages are hardly moving for most people.
Unemployment down slightly
The seasonally adjusted unemployment rate decreased to 5.1 percent in the June 2016 quarter (from a revised 5.2 percent in the March 2016 quarter). There were 1,000 fewer people unemployed over the June quarter, down to 131,000.
In seasonally adjusted terms, there were 2,000 fewer women unemployed in the June 2016 quarter. Their unemployment rate decreased 0.3 percentage points to 5.4 percent. The unemployment rate for men decreased 0.1 percentage point, down to 4.7 percent.
Employment
The June 2016 quarter estimates suggest employment growth of 2.4 percent (58,000 people), and that the employment rate has reached 66.2 percent. However, some of the changes to the redeveloped HLFS need to be considered when interpreting this quarter’s results. Overall, the new survey appears to be estimating a higher level (or stock) of employment than the previous HLFS.
Your NZ 
Blazer
/ 18th August 2016Around 5% is the ideal for employers.Could be worse,so a positive stat I guess.
Conspiratoor
/ 18th August 2016Before you rush off and burn your union card b, current stats point to a full percentage point hike in those on minimum wage, increase in part time employment and let’s not talk about those pesky brown folks
Blazer
/ 18th August 2016‘wages are hardly moving for MOST people’…..but some,have to get by on only $90,000 a WEEK….I’m sure he’s …worth it…!!Bol.
‘Fletcher Building chief executive Mark Adamson received a 17 per cent pay rise this year to $4.72 million, while the building and construction company reported a 71 per cent gain in full-year profit and met its earnings guidance.
The annual report shows Adamson’s base remuneration lifted to $1,956,250 from $1,875,000. When the short-term incentive of just over $2m, executive long-term share scheme of $749,000 and medical insurance benefit of $5672 is added in, the chief executive’s total remuneration lifts to $4,720,262 — making him one of the highest paid bosses in the country.’NZH.
David
/ 18th August 2016Seems not unreasonable after a 71% increase in profit for a CEO that runs a multi billion dollar company that operates around the world. Its shareholders money and they get a say in his renumeration and from all accounts they are a good employer.
Blazer
/ 18th August 2016I guess its the ‘going rate for ‘talent’ eh Dave.Be impossible to get anyone to do it for say 2mil per an…eh?
Kitty Catkin
/ 18th August 2016I couldn’t do it for $200,000,000, I haven’t his talent in that area & I’d say that he earns it. Companies don’t hand out that kind of money because they think that someone’s a nice person and would like it. They offer it with the expectation that anyone getting it will be doing something in exchange-like the 71% increase in profit. This salary would be a minuscule amount of that.
He’s earning it because he’s a talented hard worker in that field. We’re not because we’re not. It’s a cruel world, baby.
Blazer
/ 18th August 2016what a load of crap.Its like trickle down theory and all the other b/s corporate speak.I notice when earnings reduce the salary doesn’t.Can give you many instances of highly paid duds.Look at Solid Energy ,Elder was on over $1mil base salary and couldn’t run a bath.Shipley a school teacher is on over $1mil at Genesis.You have no idea.
patupaiarehe
/ 18th August 2016It’s not what you know, it’s who you know Blazer. Good work if you can get it…
Blazer
/ 18th August 2016read Pats post…thats reality.
Zedd
/ 18th August 2016OR have more people just given up looking for work ?
Whilst 1000s of work visas are being issued to; lower paid foreign workers !
traveller
/ 18th August 2016Zedd. Who do you know who wants to work and isn’t?
Kitty Catkin
/ 18th August 2016And what are they living on ?
Who are these foreign workers who are such mugs that they haven’t noticed that they are getting less than their Kiwi co-workers ?
patupaiarehe
/ 18th August 2016But they do notice it Kitty, and they are grateful to have a job regardless. What I have noticed about ‘foreigners’ in my industry, is that they turn up every day, are never hungover, and work hard. Their kiwi workmates could learn a lot from them…