Wednesday, May 04, 2022

29,000 employed under Labour

The quarterly labour market statistics were released this morning, showing unemployment holding at a record low of 3.2%. There are now 94,000 unemployed - 29,000 fewer than when Labour took office.

Average wages are also up, and looking back, they've increased from $30.45 / hour in 2017 to $36.18 today. Which is still running quite nicely ahead of inflation. Though the CPI has been higher for the past year, and people are going to be wanting compensation for that, so I guess we can expect much squealing from business about "wage inflation" and "labour costs" and the "need" to be subsidised by cheap immigrant labour - in other words, for workers to pay the price rather than them. Which is not something a decent country should let them get away with.