Weakening employment to subdued New Zealand growth

WELLINGTON, Nov. 6 (Xinhua) -- The growth in New Zealand wage and salary rates slowed in the year to the end of September, while the number of full-time jobs fell, indicating a weakening employment market.

The labor cost index (LCI) of salary and wage rates from Statistics New Zealand, released Tuesday, showed pay rates rose 1. 9 percent in the year ending September, including a 0.5-percent rise in the last quarter.

Salary and ordinary time wage rates in the private sector were up 2.1 percent in the year, while public sector rates rose 1.4 percent, down from 1.6 percent in the year to the June.

The mean increase in salary and wage rates in the September quarter was 3.1 percent, the lowest since a 3.1-percent increase in the March 2011 quarter.

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