Earnings surge across New Zealand

Significant yearly growth

Earnings surge across New Zealand

Total gross earnings in New Zealand for the year ending March 2024 saw a substantial rise of 8.6%, reaching $174 billion, up from $160bn the previous year.

This increase, amounting to $13.8bn, indicates robust economic activity across various sectors.

Regional growth highlights

All regions experienced growth in total gross earnings, with Marlborough and Otago leading with a 10% increase each. Northland and Waikato also showed significant growth, each with an 8.9% increase.

Auckland, the country’s largest economic hub, saw its earnings rise to $64.9bn, up from $59.6bn.

Job market adjustments

The job market reflected subtle changes, with filled jobs rising by 0.3% in the March quarter, an addition of 7,346 jobs.

Industry-specific shifts included a decrease in public administration and safety jobs due to a reduction in temporary election-related positions, while healthcare, education, and accommodation sectors experienced growth.

“The decrease in filled jobs for the public administration and safety industry reflects a reduction in temporary jobs related to the general election,” said Sue Chapman, business employment insights manager at Stats NZ, in a media release.

“Filled jobs have increased by 2% when comparing the March 2024 quarter with the March 2023 quarter. Although the pace has slowed, filled jobs continue to rise over time.”

Economic outlook

The increase in gross earnings alongside a stable rise in job numbers suggests ongoing economic resilience and growth potential.

The regions’ earnings growth, coupled with targeted industry expansions, points towards a continued positive trajectory for New Zealand’s economy.

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