Friday, July 30, 2010

Vital Statistics

GDP
(average growth for year to Sep 09)

-2.2%

CPI
(Sep 09 incr on Sep 08)

1.7%

Current account balance
(year to Sep 09, % of GDP)

-3.1%

Unemployment
(Sep 09)

6.5%

Employment
(Sep 09 change on Sep 08)

-1.8%


04 Aug 2009
Labour costs up but easing

Salary and wage rates rose by 0.3 percent in the June quarter, taking them up 2.8 percent in the year to the June quarter.  This is down from the 3.3 percent increase in the year to the March quarter.  This is the lowest annual increase recorded since a 2.6 percent rise in the year to June 2005 quarter; and the 0.3 percent increase on the quarter is the lowest recorded since the September 2000 quarter.

Salary and wage rates in the public sector were up 0.4 percent in the quarter and 3.6 percent in the year.  Central government rates were up 3.8 percent, while local government was a more subdued 2.5 percent.

In the private sector, salary and wage rates were up 0.3 percent in the quarter and 2.7 percent in the year.  The latest annual increase is the lowest since a 2.6 percent increase in the year to the June 2005 quarter.

On the year, the industry groups with the largest annual increases were health and community services (up 4.4 percent) and education (up 4.0 percent).  The main reason for the increases were collective employment agreements coming into effect.  At the other end of the spectrum, salary and wage rates for furniture and other manufacturing increased by only 1.0 percent on the year, the lowest annual increase for the industry since the series began in the June 2001 quarter.

In terms of occupation group, managers, professionals and technicians has a rise of 2.9 percent on the year, while clerks, services and sales workers, and other occupations had increases of 2.5 percent and 3.2 percent respectively.  Annual increases across all groups ranged from 1.9 percent (salespersons, demonstrators and models) to 5.1 percent for health professionals.





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