Earlier this month Stats NZ released the June 2020 wage inflation information. The headline stats were for the year to June 2020.
The public sector increases were higher as a result of the number of pay settlements over 2019/20 including Nurses, Teachers, Principals and Police.
Minimum Wage Increases
The minimum wage increased to $18.90 per hour on 1 April 2020 and this accounts for the difference in overall increases within the private sector. Minimum wage is to further increase to $20.00 per hour with effect from 1 April 2021.
COVID-19 Effects on Wages
The quarterly changes were flat, which indicates most held their review of remuneration during the COVID-19 lockdown. The September statistics will uncover whether those decisions were made in Alert Level 2 or further held.
Funding from the RBP Business Advisory Fund
Grow HR also offers services that are registered with the COVID-19 Business Advisory Fund. Small- and medium-sized businesses may qualify for funding to help pay for advisory services to support them through the COVID-19 outbreak. Find out more by visiting www.regionalbusinesspartners.co.nz