New Zealand's Q2 advertised salary growth slowed to 0.8%, with Healthcare & Medical leading, while Retail, Manufacturing, Transport, and Hospitality lagged inflation.
Advertised salary growth in New Zealand slowed to 0.8% in the quarter ending May, down from 1.1% in Q1 and 5.1% in February. The Healthcare & Medical industry saw the highest growth (11.3% y/y) due to government-NZ Nurses Organisation pay agreements. However, nearly half of industry classifications lagged inflation, with Retail & Consumer Products, Manufacturing, Transport & Logistics, and Hospitality & Tourism experiencing slower growth.
June 26, 2024
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