Labor Cost Index y/y indicates changes in the labor costs paid by employers during the given quarter compared to the same quarter of the previous year. It is calculated as the ratio of a single employee labor cost to labor productivity (defined as GDP per one employed person). The indicator allows evaluating inflation and forecasting the growth in consumer spending.
New Zealand Labor Cost Index y/y
Last release
Actual
2.0%
Forecast
2.0%
Previous
2.0%
Date (GMT)
Reference
Actual
Forecast
Previous
1 Q 2021
1.6%
1.7%
1.5%
4 Q 2020
1.5%
1.8%
1.6%
3 Q 2020
1.6%
2.1%
1.8%
2 Q 2020
1.8%
2.6%
2.4%
1 Q 2020
2.4%
2.5%
2.4%
4 Q 2019
2.4%
2.2%
2.3%
3 Q 2019
2.3%
2.0%
2.2%
2 Q 2019
2.2%
1.8%
2.0%
1 Q 2019
2.0%
1.9%
2.0%
4 Q 2018
2.0%
1.8%
1.9%
3 Q 2018
1.9%
1.6%
2.1%
2 Q 2018
2.1%
—
1.9%
1 Q 2018
1.9%
—
1.9%
4 Q 2017
1.9%
—
1.9%
3 Q 2017
1.9%
—
1.6%
2 Q 2017
1.6%
—
1.5%
1 Q 2017
1.5%
—
1.6%
4 Q 2016
1.6%
—
1.6%
3 Q 2016
1.6%
—
1.6%
2 Q 2016
1.6%
—
1.8%