Labour costs rose 2.6 per cent in the year to June, pushed up by higher annual leave, two more statutory holidays this year and rising superannuation costs.
Labour costs in the private sector were up 2.8 per cent, while public sector labour costs rose 2.4 per cent.
Statistics New Zealand said overall labour costs rose 2.6 per cent in the year to the June 2012 quarter, with the non-wage component rising 5.9 per cent.
The increase in the non-wage labour costs component of the labour cost index (LCI) reflected higher annual leave and statutory holiday costs and higher superannuation costs.
The salary and wage rates (including overtime) component, released in August 2012, increased 2.0 per cent in the year to the June 2012 quarter.
Annual leave and statutory holiday costs increased 8.4 per cent in the year to the June 2012 quarter.
In 2011 there were nine statutory holidays; in 2012 there were 11. This change increased employers' holiday costs, as did a 2.0 per cent increase in pay rates.
Employers' superannuation costs per employee rose 4.1 per cent in the year to the June 2012 quarter.
This increase reflects continued growth in employer-subsidised KiwiSaver membership and higher pay rates, partly offset by falls in membership in other employer-subsidised superannuation schemes.
Workplace accident insurance costs were down 6.7 per cent in the year to the June 2012 quarter. This fall resulted from decreases in ACC levy rates.
These decreases were partly offset by a 2.0 per cent increase in pay rates.
- © Fairfax NZ News