Latest wage increase figures welcomed

08 November 2005

Latest wage increase figures welcomed but wages campaign must continue

The Council of Trade Unions has welcomed the latest Labour Cost Index figures showing the wage movements across all sectors averaged 3% in the last year, but is pledging to continue the campaign for better wages for workers.

"The private sector ordinary rate lifted by 2.8% overall, but we are pleased to note that for those private sector workers who did get an increase, it was 5.2%," said CTU President Ross Wilson.

"Unions have been campaigning for a fair share for workers, including through this year's high profile "5% in 05" campaign. These figures show the campaign is continuing to have an effect," said Ross Wilson.

"However the overall private sector increase of 2.8% is still below the CPI increase for the same period of 3.4%. Businesses are enjoying good profits and there remains a need for widespread collective bargaining to ensure workers get decent wage increases."

"We do not expect these wage increases to be of significant concern to the Reserve Bank. House prices have gone up by 57% in 3 years compared with private sector wage increases totalling around 7% in that period," said Ross Wilson.

ENDS

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