Average weekly income on the rise in June quarter

Statistics NZ said in a commentary today the average weekly gross income was $554 for the June 2004 quarter, up 2.6% compared to a revised $540 the year-earlier.

Males remain better off than females, with men collecting an average weekly income from all sources of $700, compared to $417 for women. Average hourly rates for men was $19.58, while women received an average hourly rate of $16.80.

The average weekly income from wage and salary rose 4.6% in the June 2004 quarter to $348. This reflected a 3.2% increase in wages and salaries for those in paid employment and a 3% rise in the number of people in paid employment.

Late baby boomers in the 45 to 49 year age group reported the highest average weekly income of $795. Males in this age group had an average weekly income of $1026 , and females $570

On a regional basis, Auckland had the highest average weekly income, of $627, followed by Wellington with $585 and Waikato with $543. The lowest average weekly incomes were reported in Otago, with $459, and Northland, $470.

Households were also better off in the June 2004 quarter, with the average weekly household income up 2.8% to $1203, compared to an average of $1170 the year-earlier.

Median weekly household income rose 4.3% to $992. Worst off were households with one parent with dependent children, which had the lowest average weekly household income of $508, up from $504 in the June 2003 quarter.

Wages and salaries were the main source of weekly income, with 51.4% of people receiving income from this source, followed by income from investments (28.6%) and government transfers, which includes benefits, superannuation and ACC, (28.5%). Almost 11% of people stated they received no source of income.

The average weekly income from investments for all people was $22 for the quarter. Income from this source was received by 28.6% of all people, down from 31.8% the year-earlier.

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