Income growth moderate

In the June 2008 quarter, the median (half receive more, and half receive less than this amount) weeklyincome for all people from all sources was $537, Statistics New Zealand said today.

This information comesfrom the annual New Zealand Income Survey, which is run during the June quarter (April to June).

Thesurvey provides a snapshot of income statistics on people and households.

The median weekly income of $537 represented an increase of 3.5 percent from the June 2007 quartermedian of $519, and is the lowest annual percentage increase since the June 2003 quarter.

Contributors tothis growth were increases in female median weekly income from all sources (up 5.3 percent) and inmedian weekly income from wages and salaries (up 2.7 percent).

In the June 2008 quarter, median weekly wage and salary income was $729, up 2.7 percent from the June2007 quarter.

For males, the increase was 5.1 percent (to $863) and for females the increase was 4.3percent (to $600).

For those in full-time employment, median weekly wage and salary income increased forboth males (up 4.4 percent) and females (up 2.3 percent).

Median hourly earnings for people receiving income from wages and salaries rose $0.75, up 4.2 percent to$18.75 from the June 2007 quarter.

For males the rise was $0.90, up 4.7 percent to $20.00 per hour. Forfemales the rise was $0.72, up 4.3 percent to $17.50 per hour.

Since the June 2007 quarter, total hoursworked decreased slightly, down 1.1 percent, while total income received from wages and salariesincreased 3.6 percent.

Over the year, the proportion of people receiving investment income decreased from 38.0 percent to 34.2percent.

This proportion is similar to that of the June 2006 quarter, when it was 32.4 percent.

While theproportion of people receiving investment income decreased, median weekly investment income for thosereceiving income from investments increased $5 (37.0 percent) from the June 2007 quarter.

Geoff BascandGovernment Statistician

9 October 2008

END

See also the Hot Off The Press information release New Zealand Income Survey: June 2008 quarter