ZB ZB
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Workers earning less of the national income than in the eighties

Author
Daniel Walker,
Publish Date
Sat, 25 Nov 2017, 6:42AM
Council of Trade Unions Secretary Sam Huggard says those that put in the work deserve a fair share of the rewards. (Photo: File)
Council of Trade Unions Secretary Sam Huggard says those that put in the work deserve a fair share of the rewards. (Photo: File)

Workers earning less of the national income than in the eighties

Author
Daniel Walker,
Publish Date
Sat, 25 Nov 2017, 6:42AM

Workers are taking home a significantly smaller proportion of the national income than they were a generation ago.

New figures from Stats NZ shows wage and salary earners are receiving just under half the nation's income, whereas in 1981 they got nearly 60 per cent.

The Council of Trade Unions say if we returned to that rate, everyone working now would be earning $11,000 more per year.

CTU Secretary Sam Huggard said it explains why workers haven't been feeling the effects of the rockstar economy.

"We've had some major changes to the economy over the last twenty to thirty years, and they have not been changes that have been particularly helpful for working people."

"What that means is that over time the amount of benefit workers have been able to receive from economic growth has been reducing, year after year."

Sam Huggard said with the change of government, it's time for them to put in place changes in policy.

"Changes to our tax system, the laws around collective bargaining and equal pay for women couldn’t come soon enough to right this imbalance."

"The new Government has a mandate to correct wealth-hoarding at the very top of the income scale, which will allow ordinary people to pay down debt and build a buffer of savings.

"We need to tweak the rules to reflect what most people consider simple economic justice - those that put in the work deserve a fair share of the rewards."

Take your Radio, Podcasts and Music with you