Wages/salaries and investments drive increase in income

 In the June 2007 quarter, the average weekly income for all people from all sources was $667, StatisticsNew Zealand said today.

This information comes from the annual New Zealand Income Survey, which isrun during the June quarter (April to June).

The survey provides a snapshot of income statistics on peopleand households.

The $667 average weekly income (mentioned above) was an increase of 9.4 percent from the June 2006quarter average of $610, and was the highest annual percentage increase since the June 2002quarter.

This change was mainly due to a rise in wages and salaries and investment income.

Increases in the number of wage and salary earners were similar for males and females, up 2.0 percentand 1.3 percent, respectively.

For those receiving wage and salary income, the average weekly wage andsalary income increased more for males (up 8.7 percent) than for females (up 6.0 percent).

The largerincrease for males was due to a combination of factors, including more males being represented at thehigher wage and salary income levels, and more males in full-time employment.

Median (half receive more, and half receive less than this amount) hourly earnings for people receivingincome from wages and salaries rose from the June 2006 quarter to the June 2007 quarter, up $1.00 to$18.00 (5.9 percent increase).

Males increased by $0.97 to $19.10 per hour and females increased by$0.90 to $16.78 per hour. All industries and occupations experienced increases in both average (mean) andmedian hourly earnings compared to the same quarter of the previous year.

Over the year, average weekly investment income for those receiving investment income increased by 29.1percent (to $137).

Age groups with the highest average weekly investment income were the 60- to 64-yearage group and the 55- to 59-year age group ($265 and $232, respectively).

Both these age groups alsoreceived the highest average weekly investment income for all people