In this section
Offers for readers
The comment stream
Recent comments
- 1 of 19105
- ››
Editors choice
- 1 of 276
- ››
Finance sector jobs
Successful applicants will have the opportunity to work with this leading Australian Advis...more
Australia
Think Global Recruitment is working with this exceptionally respected Australian Boutique ...more
Australia
Sought after opportunity to move to one of the most beautiful westernised countries in the...more
Australia
The news stream
Latest news
Most commented
- 90 seconds at 9 am with BNZ 116
- Wednesday's Top 10 with NZ Mint 78
- Friday's Top 10 with NZ Mint 28
- The problems with NZ's energy use 19
- Amanda's Take Five for Wednesday 19
- More bank mortgage rate cuts 16
- Govt lifts minimum wage 50 cts to $13.50 an hour 16
- Thursday's Top 10 with NZ Mint 15
- 90 seconds at 9 am with BNZ 14
- Full time jobs fall 13,000 in Dec qtr 14
Most viewed
Interest on Twitter
Overall income growth static in June year as inflation rises 1.9%
New Zealanders' median weekly income from all sources rose by NZ$2 in the June quarter from the same time a year ago, while average income fell NZ$2, figures released by Statistics New Zealand show.
Median weekly income for all people from all sources was relatively unchanged, at NZ$538, compared with the June 2008 quarter figure of NZ$536, Stats NZ said. This represents a rise of 0.4% while inflation (measured by the CPI) over the same period was 1.9%.
Median incomes rose by NZ$18 (3.5%) annually to June 2008 from 2007 when inflation for the period was 4%. The median rose by NZ$34 (7%) to 2007 when inflation was 2%.
Average weekly income from all sources fell NZ$2 to NZ$680 in the year to June 2009. Average weekly income from wages and salaries rose 1.8% between June 2009 and 2008.
Here is the release from Stats NZ:
New Zealand Income Survey results for the June 2009 quarter showed income was relatively unchanged since the June 2008 quarter, Statistics New Zealand said today. The New Zealand Income Survey is an annual survey that is run during the June quarter (April to June) and provides a snapshot of income statistics about people and households.
Since the June 2008 quarter, the number of people receiving income from government transfers has increased significantly (up 33,700), while the number of people receiving income from self-employment has decreased significantly (down 34,100).
Males, people aged 65 and over, and those in the Pacific ethnic group all had significant increases in the number of people receiving income from government transfers.
Both males and females, people aged 40 to 44 years, and those in the European ethnic group all had significant decreases in the number receiving income from self-employment.
Since the June 2008 quarter, median weekly income from investments, for those receiving income from this source, decreased by $6 for both males and females, to $17 and $13, respectively.
Median hourly earnings from wages and salaries rose by $0.77. Median hourly earnings for females rose by $0.78, to $18.22, while there was no significant change for males.
15 Comments
We are all going backwards,
We are all going backwards, fast...
And Bernard, if you would put a chart together showing how the CPI growth compares to income growth over the last 10-15 years when including house price inflation in the 'official' CPI (which it should be included really), then we all might get a bit of a shock??
No wonder that people like myself who sit pretty without mortgage and any debt, will need to wait a little longer for this inflationary house price bubble to unwind!!
@ctnz: The housing bubble is
@ctnz: The housing bubble is a bubble so part of CPI?...not so sure it is a statistical anomaly, you need some sort of agreed figure / ratio that is a baseline and keep that constant....add in the housing cost later to give "CPI mk2" by all means which would be interesting....and yes I agree on going backwards, really unless you get a promotion or a new, better paying job things just get worse every year. CPI mk3 could be CPI per age band...or per income band, I would find that interesting as well.
inflation at 1.9% is surprising....need to look at what's what, I suspect there are some items well above that and some below, rather than as many about that as there used to be....
regards
Some of the details are
Some of the details are interesting....I forever hear how badly off the aged are, yet they enjoyed a 9.1% increase....youth, never yet they lost the worst.
# decreased most for those aged 15 to 19 years, down $40 from the June 2008 quarter
# for those aged 65+, was up 9.1 percent from the June 2008 quarter.
Steven, Regardless whether house prices
Steven,
Regardless whether house prices "bubbled" or not, They certainly still affect you when you go out to buy or (arguably) rent a house, as the outgoing cash still goes out. Or not...? So, if you are truly measuring the general typical outgoings a family has, why would you not include a representative housing "cost component" in a CPI measurement? Anything else is just pulling the wool over your own eyes in my opinion.
ctnz- wouldn't you be better
ctnz- wouldn't you be better off selling up / renting / buying after bubble unwinds if so confident this will happen? Money for jam?
Aussie unemployment is... DOWN !
Aussie unemployment is... DOWN ! Jobs a plenty, with good rates, over there boys !Now where is that graph of net NZ immigration ...? Wally ! You got it ?
buyerinchch, Family trust has already
buyerinchch,
Family trust has already sold almost all of it in Feb-Mar 07. But we digress from the thread's focus, that is, incomes have been going backwards even without accounting for a substantial portion of living costs, that is to put a roof over your family somehow.
I didn't intend on arguing about house prices as such, but wanted to make a clear point about how large an impact they have in everyday life and this is ignored by statistics from governments all over the world and right here in NZ!
<a href="http://www.dunk2u.com/Nike_Men_Dunk_SB__Special_Ed.html
Nike Men Dunk SB Special Ed
Nike Trainer Dunk
**
**
My income has dropped.... I
My income has dropped....
I live off my interest and I am too young to get a pension.
I don't take a benefit.
Who's got my two bucks?
Who's got my two bucks? Must be a greedy bugger out there who got an extra four.
if you leverage that 2%
if you leverage that 2% by 1 billion times you can begin to see whats driving the recent housing rises. Solid fundamentals. Recession is truly over.
Harriet........aint it funny....didn't we point
Harriet........aint it funny....didn't we point out the downside of propping up the residential poop with yet more cheap credit and humbug about immigration saving this nuthouse of economic shite....now who will be first to get across the ditch I wonder!
Food for thought for the
Food for thought for the confusionists (As opposed to the Inflationists / Deflationists)
http://www.zerohedge.com/article/guest-post-sound-one-hand-clapping-what...
Gibber old bean, the key
Gibber old bean, the key comment inside that report...." Who knows what final trigger will cause a critical minority to suddenly determine that they'd rather hold things than paper?"http://www.zerohedge.com/article/guest-post-sound-one-hand-clapping-what-deflationists-may-be-missing