When the Facts Change

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When the Facts Change

Bernard Hickey's essential weekly guide to the intersection of economics, business and politics in Aotearoa. Created by The Spinoff together with Kiwibank.

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You deserve a raise

You deserve a raise

New Zealand’s Labour Cost Index showed a 2.4% wage increase last year. But when you set that against an inflation increase of 4.9% over the same period, in real terms the average New Zealander took a 2.5% pay cut. In a tight labour market, we should in theory all be marching into our boss’s office and asking for a raise – so why isn’t this happening?