New Zealand's wage growth ranks 'worst in the world,' OECD report finds
New Zealanders have experienced some of the weakest inflation-adjusted wage growth among OECD countries in recent years, according to a new report. The findings add to pressure on policymakers already grappling with a sluggish labor market.
New Zealand has recorded some of the worst inflation-adjusted wage growth among developed economies in recent years, according to a new OECD report.
The report found that real wages for many New Zealand workers have barely kept pace with the cost of living, ranking the country near the bottom among OECD members on this measure. Economists said the finding reflects a combination of weak productivity growth and a soft labor market.
The report is likely to add pressure on policymakers, who are already navigating a sluggish economy and recent interest rate decisions. Business groups and unions offered differing views on what should be done to lift real incomes.
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