October 7, 2016 1:00pm by David Farrar

Median weekly earnings up 5%

Stats NZ reports:

Median weekly earnings from paid employment rose $44, to reach $924, between the June 2015 and June 2016 quarters, Statistics New Zealand said today. This increase of 5.0 percent was the largest annual increase since the June 2007 quarter. Paid employment includes both wage and salary earners and self-employed people.

So we have inflation of just 0.4% and the average worker is earning 5% more than a year ago. Great.

We also have close to the strongest economic growth in the OECD, falling unemployment and the government accounts in surplus (again rare in the OECD).

Sure there are challenges, especially around housing, but my God New Zealand is looking so much better than almost everywhere else.