NZ labour cost index +0.3% in Q2,

NewZealand’s labour cost index(LCI) of private wages rose 0.3% on the previous quarter, for an annual rise of 2.6%. It was below expectations of +0.5%.

The quarterly employment survey released at the same time showed signs of further weakness. Employment as measured by full-time equvalents fell 3.2%and job adds were down 2.1% in the year to june.