Govt to increase minimum wageLabour
Labour Minister Simon Bridges today announced the adult minimum wage is to rise to $14.25 an hour.
The current adult minimum wage rate is $13.75 an hour.
The Starting-Out and training minimum wages will increase from $11 an hour to $11.40 an hour, which is 80 per cent of the adult minimum wage.
“Setting these wage rates represents a careful balance between protecting low paid workers and ensuring jobs are not lost,” says Mr Bridges.
“The increase announced today balances the needs of both businesses and workers and will have minimal impact on the wider labour market and inflationary pressures.
“This increase will keep the minimum wage at around 50 per cent of the average hourly rate, which is the highest rate in the OECD.
“The Government is firmly focussed on growing the economy and boosting incomes. Through our Business Growth Agenda we are creating opportunities to help grow more jobs in New Zealand, for New Zealanders.”
The new minimum wage rates will come into effect on 1 April 2014.