June 2013 Income survey

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