National’s “growth” – more jobless, wages down in real terms

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MIL OSI – Source: Green Party –

Headline: National’s “growth” – more jobless, wages down in real terms



“The benefits of economic recovery have largely been for the few. Most households are worse off under this Government.”

New data today shows that six years under National has translated into more people without jobs and salaries and wages down in real terms, the Green Party said today.

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“The benefits of economic recovery have largely been for the few. Most households are worse off under this Government,” Green Party Co-leader Metiria Turei said today.

June quarter Labour Cost Index figures show ordinary time salary and wages have dropped 4.2 percent from the September 2008 quarter, before National came to power, when adjusted using the Reserve Bank of New Zealand wage inflation calculator. Statistics New Zealand says the Labour Cost Index is the best measure of earnings.

Statistics New Zealand also today released the Household Labour Force Survey which shows the unemployment rate fell to 5.6 percent in the June quarter from a revised 5.9 percent in the March quarter but it is still well ahead of the 4.6 percent rate when National took office.

“Today’s numbers confirm what most people have been feeling for years – their pay is not keeping up with the rising cost of living,” Mrs Turei said.

“This gives the lie to Bill English’s claim that average wages have risen under National. For people who are struggling to pay their power bill or haven’t got a job – this is far from a rock star economy.

“It certainly isn’t a rock star economy for the one-in-four children who are in poverty.

“National has materially failed to grow jobs and wages, and failed to protect households from rising house and power prices,” Mrs Turei said.

“Families with a mortgage are being squeezed even further because the Reserve Bank has hiked interest rates four times since March, mainly because National has failed to rein in the housing market and such things as power prices.

“Voters will have a clear choice next month. National offers a backward-looking business-as-usual, polluting economic future based on milk powder and mining.

“The Green Party alternative vision is to invested in education, research and science so we create an innovative, non-polluting economy that is jobs-rich,” Mrs Turei said.

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