1506366658242 - New Zealand annual income on the rise, but so are costs

New Zealand annual income on the rise, but so are costs

Working New Zealanders are earning the most they have in a decade, but they are also being forced to spend more. 

Statistics New Zealand figures show New Zealanders are earning on average $50,000 a year from salaries and wages – about $12,000 more than they were in 2007, or about an extra $230 a week. 

But other statistics on rising household expenses suggest that extra money is not staying in your pocket.

Since 2013, the average weekly cost of household spending increased by an average of $190 a week. 

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The median income – which shows the midpoint rather than the average of incomes – has risen about $10,000 to about $43,000 over that period. 

Statistics NZ said housing, household utilities, food and transport soaked up more than 57 per cent of a household’s wages each week. 

Learn more about the information shown above, and explore more charts, at Figure.NZ’s site.

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