Little change in income since June 2011

New Zealand Income Survey results for the June 2012 quarter showed no significant increase in income from all sources since the June 2011 quarter, Statistics New Zealand said today.

Between the two June quarters, median weekly income, for all people, from all sources, did not rise significantly – up 1.8 percent from $550 to $560. Although there was little overall change, income increased for the 20–24, 60–64, and 65 and over (65+) age groups.

From the June 2011 to the June 2012 quarter, there was little annual increase in median weekly income from wages and salaries (for those receiving this source of income), up $6 (0.7 percent) to $806. This is the smallest change in median weekly wage and salary income since the June 1999 quarter.

However, median weekly income from wages and salaries increased for people aged 60–64 (up $62 to $860) and for people aged 20–24 who were in part-time employment (up $32 to $250).

Median hourly earnings showed little annual change – up 48 cents (2.4 percent) to $20.86.

The proportion of people aged 65+ who received income from self-employment was up from 6.0 percent in the June 2011 quarter to 7.5 percent in the June 2012 quarter.

The number of people receiving income from government transfers increased 3.0 percent in the year to the June 2012 quarter. The 65+ age group was the main contributor to this rise.

Median weekly income from government transfers (for those receiving this source of income) increased by $8 (2.8 percent) to $288 in the year to the June 2012 quarter. This increase was mainly influenced by adjustments to superannuation (2.65 percent) and to main benefits and student allowances (1.77 percent) which came into effect on 1 April 2012.

The New Zealand Income Survey, which started in 1997, is an annual survey run during the June quarter (April to June). It provides a snapshot of before-tax income statistics about people and households.

See also:  New Zealand Income Survey: June 2012 quarter  –  Information release