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Median weekly income edges down

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Fuseworks Media
Fuseworks Media

Wellington, Oct 7 NZPA - The median weekly income edged lower in the year to June, as more people started receiving money from the Government while the self-employed earned less and investment income fell.

Statistics New Zealand (SNZ) today said the median weekly income for all people from all sources fell between the June 2009 and June 2010 quarters by a "non-significant" 1.7 percent to $529. That compares with $538 in the June 2009 quarter and $536 in the June 2008 quarter.

Median weekly wage and salary income, for those receiving it, rose by 1.2 percent to $769 in the June 2010 quarter. That was the lowest recorded rise in the measure since the June 1999 quarter, SNZ said.

Since the June 2009 quarter, the proportion of people receiving wage and salary income slipped from 54.1 percent to 53.5 percent.

The proportion of people receiving income from government transfers, such as benefits, rose to 33.8 percent from 32.6 percent in the June 2009 quarter.

Since the June 2009 quarter the number of people receiving government transfers had risen "significantly" by 54,400 or 4.9 percent, while over two years the increase was 88,100 or 8.3 percent, SNZ said.

Between the June 2009 and June 2010 quarters, median weekly income from government transfers, for those receiving it, edged down $4 to $269.

"Significant" age group rises in the number of people receiving government transfers since the June 2009 quarter included an increase of 13,100 people in the 15-19 age group, 17,600 in the 20-24 group, and 17,400 in the 65 and over group.

The rises in the 15-19 and 20-24 groups were consistent with the fall in the labour force participation rate and a rise in the unemployment rate for those groups, SNZ said.

For those receiving income from self-employment, median weekly income fell "significantly", down $38 or 6.3 percent to $575. For those in the 40-44 age group self-employment median weekly income fell $288 to $479, while the 55-59 group recorded a rise of $153 to $767.

Median weekly income from investments, for those receiving it, fell "significantly" by $3 to $12. In the June 2008 quarter, income from investments had been at its highest recorded level of $19.

Since the June 2009 quarter, the number of people receiving income from investments fell "significantly" by 81,700 people, or 7.2 percent.

The median weekly household income from all sources was $1236 in the June 2010 quarter, barely changed from $1234 in the June 2009 quarter, and still below the $1257 in the June 2008 quarter.

The average weekly household income from all sources was $1484 in the latest year, also barely changed from $1480 a year earlier.

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