4 Oct 2012

Personal income up slightly

10:22 pm on 4 October 2012

Personal income increased over the past year, but only slightly.

Statistics New Zealand says median weekly income from all sources in the year to June was $560, up $10 on the previous year.

Income from wages and salaries was up 0.7%, the smallest rise since 1999.

However, payments from the Government are increasing, mainly because of increased superannuation benefits and student loans.

Council of Trade Unions economist Bill Rosenberg says the result reflects the current situation of layoffs and higher unemployment.

He says the ageing population also means more people are going onto New Zealand superannuation.

"But very likely the employment situation has encouraged people to do that rather than look for jobs".