June 2013 Income survey

October 7th, 2013 at 11:00 am by David Farrar

Stats  NZ has published their latest annual income survey. Some interesting stats:

  • Average income from wages/salaries up 6% in the last year
  • Average income from all sources up 2.2% and median income from all sources up 2.7% which suggests less income inequality
  • Median income for those in paid employment is $45,729 and average income is $53,759
  • Median income for those with no qualifications is $39,002, $50,005 for a bachelors degree and $67,003 for a post-grad degree
  • Age is a major factor in income. 50% of those in the bottom income quintile are aged under 25, while under 25s make up just 2% of the top income quintile. Those arguing that 16 year olds must get paid $18.40 an hour are basically buts.
  • The average income for a couple with two dependent children is $97,924 while for a sole parent with dependent children is $37,126
  • Government transfers represent 3% of the income of an average couple with two children and 46% of the income an an average sole parent.
  • The median salary/wage for a 40 hour week  is $45,009 and the average is $54,229
  • 1,197,100 people receive a Government transfer, 1,892,100 are in employment, 323,900 are self-employed
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Beware the average income stat

September 10th, 2013 at 2:00 pm by David Farrar

A reader e-mailed in asking:

I’d be interested to know if 70% of New Zealanders actually earn less than $43,000.

This is in relation to some claims on another blog.

The stat is correct, but it is a fairly meaningless stat. When you see stats about the average or median income for all adult New Zealanders, you need to remember this is including hundreds of thousands of New Zealanders who are not actually in work! It includes the 15 year olds at school, the tertiary students in full-time study, the non-working spouses, the beneficiaries, the retired etc.

The more useful stat for me is what is the average hourly income of someone in employment. Because it is people in employment who fund the rest of society.

The latest average hourly wage is $27.55 an hour. That equates to $55,000 a year if you did a 40 hour week. The average or mean is different from the median, but I use it here as Stats NZ only provide the mean in their quarterly stats.

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How much Kiwis earn?

March 11th, 2013 at 7:00 am by David Farrar

How-Much-Do-Kiwis-Earn revised

A reader sent in this interesting infographic. From this site.

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Household incomes

December 2nd, 2012 at 4:00 pm by David Farrar

The latest household income survey has some good and interesting news in it.

  • Average annual household income from all regular sources increased from $79,256 to $81,067 – a 2.3% increase
  • Average annual household income from wages and salaries increased from $77,843 to $82,029 – a 5.4% increase
  • Total housing costs as a proportion of total regular household income decreased from 16.4 percent to 16.0 percent.
  • The median annual regular household income went up 5.8% from $62,853 to $66,469
  • The median annual regular household income from salaries went up 7.9% from $46,410 to $50,057
  • The median annual personal income from salaries, for someone in employment, went up 5.9% from $37,673 to $39,889
  • The average annual personal income from salaries, for someone in employment, went up 4.0% from $44,376 to $46,169
  • The average household with a mortgage is paying $20 a week less than a year ago
  • In Auckland the average annual housing cost has dropped from $17,619 to $16,654 while the average income has increased from $90,762 to $93,532 so the proportion spent on housing costs has dropped from 19.4% to 17.8%.
  • Only around 20% of those in the two lowest income deciles say they are dissatisfied with their material standard of living, and 60% are satisfied.
  • 10% of NZers have income of over $80,000. If you have a bachelors degree it is 24%, masters 26%, and doctorate 34%

It is always interesting to see how the stats measure up against the perception.

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Income and Sex

August 4th, 2011 at 8:07 am by David Farrar

Rachel Browne at Stuff writes:

A survey by Relationships Australia has revealed that people’s sex lives improve along with their income – and that the magic number for satisfaction starts at about A$80,000.

Only 44 per cent of people with a household income under A$60,000 a year are sexually active, compared with 81 per cent of people with a household income of more than A$80,000 a year.

Maybe this is why Labour is determined to tax higher earners more? :-)

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